Turkey’s Kardemir returns to profit in Q1 2010

Friday, 14 May 2010 14:22:28 (GMT+3)   |  
       

In the first quarter of 2010, Turkish integrated long steel producer Kardemir Karabuk Demir Celik Snayi ve Ticaret A.S. (Kardemir) posted a consolidated profit of TRY 6.76 million ($4.41 million) compared to a loss of TRY 20.78 million recorded in Q1 2009.
 
In the given period, Kardemir's sales revenues declined by 11.9 percent year on year to TRY 228.64 million ($149.27 million).
 
In the first quarter of 2010, Kardemir's average sales price for steel billets improved by 11.35 percent to TRY 677/mt, while its average sale price for rebar stood at TRY 759/mt - up 5.56 percent, its price for sections was TRY 912/mt  - down 5.1 percent, and its average sale price for rails amounted to TRY 1,634/mt - down 14.5 percent, all compared to the corresponding period of 2009.
 
In the given period, Kardemir produced 176,950 mt of metallurgical coke - up 15.69 percent, 276,263 mt of crude steel - up 11.1 percent, and 9,253 mt of pig iron - down 38.78 percent, all compared to the corresponding period of the previous year. Meanwhile, in the quarter in question, the company's billet output totaled 219,033 mt, increasing by 20.9 percent, while its bloom output amounted to 58,116 mt, decreasing by 16.51 percent, both compared to Q1 2009.
 
In Q1 2010, Kardemir's finished steel output rose by 16.67 percent year on year to 178,150 mt. In the January-March  period of this year, Kardemir's rebar output surged by 9.88 percent reaching 131,738 mt, its section production decreased by 21.59 percent to 17,578 mt, while its rail product output totaled 28,834 mt - up 4.29 times, all compared to the corresponding period of the previous year.
 
Kardemir has one million mt of annual crude steel production capacity, 120,000 mt of pig iron output capacity and 900,000 mt of annual finished steel production capacity.

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