Turkish steelmaker Izmir Demir Celik Sanayi (IDC) is reducing shifts at its bar rolling mill because of declining orders, as COVID-19 continues its worldwide disruption.
The company is limiting how many personnel it keeps on hand and reducing bar rolling production to two shifts. It has also adopted rigorous hygiene and sanitization practices intended to prevent the virus from spreading.
In its March 24 announcement, the company noted that rebar orders had decelerated and that it would adopt measures intended to protect employees from contracting the virus. However, while it is reducing shifts and on-site personnel, which will invariably affect output, IDC has enough inventory.
There are very few sales in Turkey’s rebar market, so IDC reduced prices by TRY60/my ($9/mt ) to TRY3,100/mt ex-works, including 18pc VAT, on March 25.
($1 = TRY6.46)