Turkey’s Colakoglu has reduced its hot rolled coil (HRC) capacity utilisation to 60%, ceo Ugur Dalbeler said on Thursday May 3.
Demand for HRC in Turkey’s domestic market remains sluggish due to a slowdown in sales from consumers in the white goods and automotive sector.
Colakoglu has reduced production capacity to ensure that HRC supply meets the demand.
“We do about 240,000 tonnes a month of liquid steel,” said Dalbeler. “We are running as normal at our meltshop. However, as far as our hot strip mill for hot rolled coil production is concerned our capacity utilisation rate is around 60%,” he added.
Colakoglu is able to output 4.5 million tpy of HRC when operating at full production capacity.
It can produce HRC in thicknesses of 1.2-25mm and widths of 800-1,650mm, according to its website.
The company can also switch production to slab, billet, bloom and rebar depending on market conditions.
HRC was sold to the domestic market at $670-680 per tonne ex-works, unchanged since deals concluded last week
, according to Turkish market participants.