Venezuelan producers resume output and shipments of HBI

Venezuelan producers resume output and shipments of HBI

Venezuelan producers Comsigua and OPCO were scheduled to resume export shipments along with the HBI output following almost two months of lost time due to natural gas supply problems. The Venezuelan producers lost nearly two months of production as a result of the general strike in the country. SteelOrbis understands Comsigua resumed production by early February, and was expected to resume export shipments of the existing contracts that it signed 3-4 months ago, within this week. Market sources say; it will take the company two more months to complete shipments of existing low priced orders, and then prices are expected to go over $150/mt FOB St level ex-Venezuela. OPCO, on the other hand, is not expected to resume shipments before March as the plant is in need of maintenance.