Venezuela’s Sidor lacks raw materials, says minister

Monday, 20 March 2017 00:10:25 (GMT+3)   |   Sao Paulo
       

Venezuela’s basic industries minister, Juan Arias, admitted in a statement last week that state-run steelmaker Sidor lacks raw materials, which caused some of the company’s production lines to halt output.
 
As previously reported by SteelOrbis, Sidor is producing far less steel than forecasted. The minister attributed the decreased production to low international oil prices.
 
“There are a lot of production lines at Sidor that are not producing,” Arias said. “They’re not producing because they’re looking for raw materials to resume operations.”
 
Venezuela owns a number of steelmaking and mining companies, including steelmakers Sidor and Complejo Siderurgico Nacional, as well as HBI producers Briquetera del Orinoco, Briquetera del Caroni (Briqcar), Comsigua, among others. Venezuela also owns iron ore producer CVG Ferrominera Orinoco (FMO).

Similar articles

Sidor to restart crude steel production in Venezuela

22 Jun | Steel News

Venezuela’s Sidor maintains iron ore pellet production

11 Jan | Steel News

Mexican delegation visits Venezuela’s Sidor regarding possible restart

26 Aug | Steel News

South African officials consider investment in Venezuelan steel sector

30 Mar | Steel News

Venezuela’s Sidor to resume operations following strike

28 Jan | Steel News

Venezuela’s Ferrominera repairs equipment at pellet plant

14 Oct | Steel News

Venezuelan state-run HBI producer completing railway connecting it to Ferrominera

10 Mar | Steel News

Venezuela's Sidor repairs rolling mill

20 Apr | Steel News

Venezuelan state-run companies post marginal production figures in 2019

06 Jan | Steel News

Venezuela ships metal scrap to Turkish steelmaker

22 Nov | Steel News