SteelOrbis has heard that some Turkish steel producers with large capacities are now also considering stopping production as well, following the example of some Turkish EAF-based steelmakers which had either reduced production or entirely halted steelmaking operations earlier in September. Some EAF steelmakers have taken this course of action in consideration of the rapid decline in steel prices and also in steel demand during the last two months, particularly in the longs markets. It is understood that the production halts in question may start before the upcoming three-day religious holiday and continue into the post-holiday period.
SteelOrbis has also learned that decisions regarding production halts or capacity cuts have also been taken in some iron ore-based leading longs steelmaking facilities in Ukraine.
While some of these steelmaking companies contacted confirmed these reports on condition that their names would not be disclosed, some of them declined to comment on the issue.