Tolga Kısacıkoğlu, chairman of Galva Metal, talked to SteelOrbis, sharing his review of 2025 and expectations for 2026.
How did 2025 go for the steel sector and the global markets?
The last two to three years have been difficult for the sector, Turkey's economy and the region in which our country is located. There were economic problems, high interest rates, wars, protectionist measures and difficulties caused by China's aggressiveness. We took advantage of this period by investing. We expanded our building. We carried out significant renewal and modernization projects in our machinery park. We increased our capacity and, more importantly, our efficiency. It is no longer possible to be sustainable in production without increasing efficiency in the face of rising production costs. That is why we spent this period making important improvements.
What are your expectations for 2026?
I expect 2026 to be the beginning of a more positive period. I believe there will be a revival in demand, especially in the second quarter. I expect the ongoing antidumping case against steel originating from China and South Korea to be resolved in the first weeks of the year, leading to a decrease in imports and an increase in domestic demand, particularly for thin steel. I expect prices in Europe to rise due to CBAM. I expect demand to be supported by regions such as Ukraine and Syria. With the decline in domestic and foreign interest rates, I expect investment projects that have been postponed for two years to gradually come to life. I expect some projects to be implemented in 2026, ahead of 2027, which we expect to be even more dynamic. I believe the euro-dollar exchange rate will support Turkish exports. In summary, I am quite optimistic about 2026-27. We have made and continue to make all our preparations based on this scenario.