Kardemir plans to sell in the fourth quarter -13% less rebar than its Q3 target, but 4% more billet and bloom, Kallanish learns from the Turkish blast furnace-based steelmaker. The rebar and billet sales targets are thus 96,650 tonnes and 287,280t respectively.
The Q4 target for sections sales is down -1% on the Q3 target to 103,300t, while the wire rod sales target is down -9% to 94,500t. Pig iron sales, however, are planned at 12,880t, up from only 920t in Q3.
Concerns are mounting over the lack of demand in Turkey's domestic rebar market, with various sources indicating some mills may soon need to suspend output if conditions do not improve. Turkish year-to-date consumption growth turned negative in January-August for the first time since January, with finished steel consumption falling -0.2% on-year to 23.1 million tonnes. This was driven by a -8.1% fall in long products use to 10.9mt, but flats use rose 9% to 12.2mt.