Venezuelan state-run steelmaker Sidor resumed wire rod output on May 5, it said on Wednesday, after its wire rod rolling mill came online.
The company said the restarted equipment will operate on two different stages. At first, it will process the material for wire drawing companies that produce nails, mesh products, and wire rod, among other products, and then it will supply the processed product for barbed wire suppliers.
Sidor said it reactivated its wire rod rolling mill by using billet from its billet plant, which also resumed output.
The Venezuelan steelmaker said it rolled low carbon wire rods with a 5.5mm diameter for the drawing companies it will supply.
A Venezuelan steel union estimated this week Sidor should produce 1.9 million mt of crude steel this year. The union forecast is up from its previous estimate of 1.5 million mt that was released in March this year.
Despite the improved estimate, Sidor should still operate well below its 5.1 million mt/year crude steel capacity.