SteelOrbis talked to Hanife Wideberg, sales manager at Multi Metal, about the latest situation in the stainless steel sector.
Can you tell us about the current situation in the stainless steel sector?
Since the stainless steel sector is based on material sales and in general every sector in Turkey has been affected, we are also indirectly affected. For this reason, business has naturally slowed down in our market, and payment collection difficulties and fears of bankruptcy are worrying us all. However, despite all this, stainless steel remains important in critical areas, such as defense, medical, and power plants, etc., so its use and demand are continuous. Nevertheless, its use has declined in line with the general trend.
How would you describe the trends in demand and prices?
The decline in demand has been reflected in prices, which have fallen accordingly. Prices are also low abroad, as the recession is having an impact there too. We do not expect prices to rise for the time being and are monitoring developments.
How do you assess the competition caused by imports?
Turkey has limited stainless steel production - 250,000 tons per year of sheet metal and 10,000 tons per year of pipes. Turkey's current consumption of sheet metal is 700,000-800,000 tons per year, and other items are around 50,000 tons per year, so our sector is already import-dependent. Imports are dominated by companies with high purchasing power, which can sell at low prices in the market as a result of both credit purchases and high purchase volumes. This increases competition within the market.
The ongoing antidumping duty investigation against imports from China and Indonesia is expected to be concluded soon. What will be the impact on the market?
It is rumored that the antidumping investigation against imports from China and Indonesia will be concluded in September 2025. If the outcome is in favor of these foreign manufacturers, it will indirectly affect companies producing kitchen equipment and appliances, which are widely used in Turkey. This, in turn, seems likely to put them in a difficult position, as previously stated by association presidents or general secretaries, who have held press conferences to provide information. Naturally, I believe this will affect the usage and sales of sellers who sell cold rolled steel (antidumping applies only to cold rolled steel, and this steel group is the most sold) and manufacturers who use it in their production.
How do you interpret the protectionist policies spreading across the world?
From a political perspective and in line with the interests of countries, I think that, in this recessionary environment, the politicians of the countries implementing these policies are doing what is right for their citizens. However, if there are wrong decisions, I think the people of those societies can express what they are experiencing and explain to their governments whether it is right or wrong and guide them.
How are the current economic conditions affecting the market?
Our exports are currently limited and low, so we are actively using every social media channel and trying to develop other instruments to improve them.
Can you tell us about your new investments?
We don't have any new investments at the moment, but we are planning to start production in one area. If we get a positive response from the trial work, we can make the investment decision accordingly.
How are current economic conditions affecting the market?
Current economic conditions are creating difficulties in terms of the inability to access money and high interest rates, which are the main problems for everyone. Every sector inevitably needs additional resources beyond its own capital. Collecting payments, in particular, is a must for every sector, so disruptions here directly affect all sectors.
How is 2025 going and what are your expectations for the remainder of the year?
2025 has not been any different from 2024, at least not as much as we had hoped. In fact, the increase in bankruptcies has had an even more negative impact. But it seems that everyone needs to find a way out and chart a course. We hope that 2026 will smile on us all and that we can continue our lives without polluting our environment or reducing our production.