Production Overview
From January to September 2024, Turkey’s Kardemir achieved a 3.7% year-on-year increase in crude steel production, reaching 1.93 million tons. However, weak market demand led to a decline in overall steel sales volume. Specifically:
- Hot-Rolled Coils: Sales volume dropped by 3.6% year-on-year to 1.03 million tons.
- Billet: Sales increased by 10%, reaching 677,000 tons.
Capacity Utilization
To adapt to evolving market conditions, Kardemir raised its smelter capacity utilization to 73.6% in the first three quarters of 2024, up from 71% during the same period in 2023.
Sales Targets Adjustments for Q4 2024
Due to continued soft demand, Kardemir adjusted its Q4 2024 sales targets, reducing them by 9.5% compared to Q3. The new targets include:
- Billet: 215,000 tons
- Wire Rod: 72,000 tons
- Profile Steel: 109,000 tons
Notably, Rebar sales targets remain stable at 162,000 tons.
Market Pricing
According to LangZo Steel, Turkey’s export price of rebar was $585 per ton FOB on November 11, 2024, reflecting a decrease of $4 per ton from the previous day.
