Turkish steelmaker Kardemir has reduced its Q2 2021 production forecast by 13.1pc to 553,000mt compared to 636,000mt in Q4 2020.
The company’s outlook on billet production is down by 31.6pc for the second quarter compared to Q4 2020, while its rebar output projections are down 11.8pc for the same timeframe. Coils are expected to trend flat.
The company has lifted its rebar sales forecast by 11.4pc to 142,000mt in the next quarter. Billet sales are projected to reach 167,000mt, coil-rebar 137,000mt and profile longs sales may reach 107,000mt, the company indicated on Thursday.
About 30pc of each finished steel selection is contracted and the remaining 70pc is open to allocation, the Turkish steelmaker noted.