Turkish steelmaker to halt production

Turkish steelmaker to halt production
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Koc Metalurji, a Turkish steelmaker based in Istanbul, says it will stop production at its Iskenderun, Turkey, plant from the end of September until January 2020 in light of the market situation in Turkey, Argus Media reports.

The steelmaker focuses on domestic billet sales to small-to-medium-sized Iskenderun rebar producers, and the “gradual deterioration of Turkish domestic consumer demand on the weakening of the national economy led Koc’s local billet customers to slowly reduce their own demand over a prolonged period,” Arugus Media reports.

According to Koc Metalurji’s website, it has the capacity to produce billet ranging in size from 130 to 160 millimeters squared (roughly 5 inches to just over 6 inches squared) and rebar. It operates a 100-ton electric arc furnace (EAF) in Iskenderun, according to the Turkish Steel Producers Association.

Argus Media reports that the company has not made any deep-sea scrap purchases since late June for delivery in July, adding, that Koc Metalurji bought “most of its deep-sea scrap in 2019 from one Russian exporter and one U.S. exporter. Prior to 2019, the mill bought from a wider geographical variety of deep-sea scrap sources.”

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Source: Recycling Today
Turkish steelmaker to halt production
<![CDATA[Koc Metalurji, a Turkish steelmaker based in Istanbul, says it will stop production at its Iskenderun, Turkey, plant from the end of September until January 2020 in light of the market situation in Turkey, Argus Media reports.The steelmaker focuses on domestic billet sales to small-to-medium-sized Iskenderun rebar producers, and the “gradual deterioration of Turkish domestic consumer demand on the weakening of the national economy led Koc’s local billet customers to slowly reduce their own demand over a prolonged period,” Arugus Media reports.According to Koc Metalurji’s website, it has the capacity to produce billet ranging in size from 130 to 160 millimeters squared (roughly 5 inches to just over 6 inches squared) and rebar. It operates a 100-ton electric arc furnace (EAF) in Iskenderun, according to the Turkish Steel Producers Association.Argus Media reports that the company has not made any deep-sea scrap purchases since late June for delivery in July, adding, that Koc Metalurji bought “most of its deep-sea scrap in 2019 from one Russian exporter and one U.S. exporter. Prior to 2019, the mill bought from a wider geographical variety of deep-sea scrap sources.”]]>