Turkish rebar producer Izmir Demir Çelik Sanayi A.Ş. (IDC) has announced that as of April 1 it has temporarily suspended production at its bar rolling plant which has a 900,000 mt per year production capacity amid precautions taken to reduce the impact of the coronavirus outbreak. The company said that it will continue operations at its steel shop and medium-section mill without any change.
The decision to maintain production at its section mill stems from better demand for sections and the possibility to export these products, SteelOrbis understands.
IDC expects the loss of production per day to reach around 2,300 mt, while its daily turnover loss will be about TRY 6.67 million ($1 million). The company will resume operations when the impact of coronavirus lessens and market conditions become favorable. The company stated that there will be no layoffs during this period.
Moreover, Akdemir Celik, a subsidiary of IDC, has announced that it has halted production as of April 1 due to the cancellation of its all orders, with no new order received in consequence of the impact of the coronavirus and the availability of adequate inventories. The company’s annual rebar production capability is 330,000 mt.