Venezuelan state-run steelmaker Sidor is not producing steel in line with previous production forecasts, according to a media report citing a union source.
A Sidor-affiliated union representative estimated Sidor should produce about 1.5 million mt of steel in 2017 if it continues at the current pace, well below the company’s forecast of producing 4 million mt of crude steel for the year.
According to the union source, Sidor has not produced billets, bars or wire rods in 2017 and CRC production is reportedly at 20 percent the product’s line capacity.
Commenting on Sidor’s weak production levels, a media report from Reuters noted the steelmaker started to grow sunflowers and vegetables on “company premises to ease a national food deficit as steel output has almost ground to a halt.”