Kitchenware to burn pockets: A wave of price hikes is coming from pots to pans!

While the stainless steel sector in Turkey draws attention with its 5 billion dollar size, it has recently been facing an anti-dumping investigation. This investigation, which focuses particularly on cold-rolled flat stainless steel products, could have an impact on a wide range of areas from kitchenware to automotive.

According to the report on EkolTV, PASİD Chairman of the Board Arslan Küçükemre stated that the investigation conducted by the Ministry of Trade has moved to the on-site inspection phase. Expressing that the decision could be announced in August or September, Küçükemre said that a negative decision would increase costs in the sector and weaken export power.

Turkey does not produce stainless steel in smelting form and imports approximately 2 billion dollars worth annually. Küçükemre stated that the infrastructure for integrated production facilities is ready and that these investments would both meet domestic consumption and increase export potential.

Another factor affecting the sector recently was the increase in customs duty from 8 percent to 12 percent. This increase weakened the competitive power of firms in the sector, leading to rising prices and creating a disadvantage in foreign markets.

It has been announced that the Chinese Yongjin Technology Group will establish a 257 million dollar facility in Yalova. This investment could create new opportunities by increasing production capacity in the sector. Küçükemre emphasized the importance of such investments, noting that the sector is struggling with low profits despite high import rates.

News Source: 12punto