The reduction was attributed to an extensive investigation following the earthquake in Türkiye on February 6. For the first nine months of 2023, the steel plant reduced steel output by 19% y-o-y to 2.97 million tons. Rolled product output at Iskenderun fell 18% y-o-y to 2.45 million tons in the period.
Steel shipments also fell by 16% y-o-y in the first nine months of 2023. Capacity utilization of steel production fell to 69% in January-September from 86% in the same period of 2022. Slab and billet production experienced similar declines.
As of September 30, 2023, İsdemir's total capital expenditure amounted to $249.7 million, reflecting ongoing projects related to equipment acquisition, production and site work. These projects include a new blast furnace and vacuum degassing plant.
İsdemir announced that it had returned to its pre-earthquake production level in 2023 and continued to operate in a controlled manner. The steel plant is unique in Türkiye as an integrated facility producing both graded and flat products. The annual steel smelter production capacity is 5.3 million tons and 3.5 million tons for rolled products.
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