Turkey’s OYAK Mining Metallurgy Group indicated an unchanged crude steel output during January-September over last year while product-wise dynamics varied across its range.
In the first nine months of 2020, the group total crude steel production was flat over the prior year period at 6.48mn mt. However, a 22pc increase was noted at its Eregli plant to 2.74mn mt while Iskenderun’s output fell by 11pc to 3.75mn mt in the same period under comparison. Despite a recovery in steel consumption in Turkey, OYAK’s recovery was impeded by the COVID-19 pandemic and higher imports.
The company’s flat products output totalled 5.42mn mt during the first nine months of the year, down from 5.50mn mt in prior year, while long products volumes rose to 773,000mt from 757,000mt. Total flat product sales of the Group reached 5.4mn mt during the period under review, with domestic sales up 1pc to 4.4mn mt. Long product sales tallied at 774,000mt, with domestic sales growing by 21pc to 726,000mt.OYAK Mining exported 1.04mn mt of flat products to 40 countries and 48,000mt of long products to 10 countries in this period. Exports accounted for 18pc of the total sales volume.
The group’s sales revenue amounted to TRY21.94bn ($2.75bn) in January-September 2020, compared with TRY21.01bn in January-September 2019. OYAK posted a gross profit of TRY3.49bn during in this period.
($1 = TRY7.97)