POSCO Assan rejects rumors about sale of stainless steel plant, confirms commitment to Turkish market

According to information obtained by SteelOrbis, South Korean steel giant POSCO has denied rumors of a potential sale of its Turkish subsidiary POSCO Assan TST after reports of mounting losses due to Chinese imports. The company stressed that it has no plans to withdraw from the Turkish market and that it remains firmly committed to the market.

Background: losses due to Chinese import pressure

The media suggested that the surge in cheap Chinese stainless steel had undermined profitability in Turkey. According to these allegations, POSCO Assan TST has recorded cumulative losses of almost $200 million since 2013, raising doubts about POSCO's long-term regional strategy.

However, POSCO clarified that these reports are unfounded. It is noted that Turkish operations are continuing "as usual", with no intention of getting rid of investments.

POSCO Assan TST: strategic investment

Founded in 2011 in Izmit, Turkey, POSCO Assan TST is a joint venture between POSCO, Kibar Holding and Daewoo International. The plant has an annual production capacity of 200,000 metric tons, providing both the domestic market and neighboring regions. This strategic foothold allows POSCO to serve Europe, the Middle East and North Africa.