Turkey's consumer price index (CPI) rose by 64.27% from the same period last year, making it one of the most inflationary countries in the world.

Turkey's steel production is mainly from the electric furnace. Currently, the Turkish steel industry is facing problems such as high energy prices leading to increased production costs of steel mills, high costs leading to a decline in the price competitiveness of steel exports, and the depreciation of the lira leading to rising scrap import costs.

On the other hand, the investment opportunity for the Turkish steel industry is that the lira's depreciation has attracted foreign investment. In addition, Turkey's geographical location connects Europe and Asia, making it easier to grab the Middle East and African steel market.