Turkey loses millions of dollars every year due to the lack of a stainless steel recycling facility. According to local media reports, Bekir Topuz, chairman of the board of the Industrial Kitchen, Laundry, Service and Catering Equipment Industrialists' and Businessmen's Association, emphasized that processing scrap abroad and buying it back at high prices creates both economic and strategic losses.
An annual import burden of $285 million
Mr. Topuz stated that Turkey, which annually consumes 650,000 mt of stainless steel, exports $115 million worth of stainless steel scrap annually as it cannot be processed in the domestic market. He added that this scrap is then imported for approximately $285 million after processing.
Integrated facility proposal
Noting that Turkey exports stainless steel scrap at $150/mt and buys it back at $2,850/mt after processing, Mr. Topuz stated that launching a state-supported integrated stainless steel plant with a capacity of at least one million mt would ensure foreign currency remains in the country, meet local demand with domestic production, and create new export opportunities.
Stating that stainless steel is the only non-recyclable raw material in Turkey, he noted that a 12 percent tax has been paid for a product not produced in the country for 14 years and that Turkey is also facing antidumping investigations. Topuz stated that these unfair taxes on stainless steel in Turkey must be abolished immediately.
