Venezuela's largest steel manufacturer Sidor plans to produce about 2 million tons of crude steel, up by 92.3%.

Sidor annual capacity of crude steel is 5.1 million tons, but the current annual output is 4.675 million tons. Due to frequent downtime and increased product cost, the production has been unsatisfactory over the past few years. Allegedly, in 2010 the product cost per tonne of Sidor is 2.33 Bolivar (about USD371), then the cost keep rising and reached 12.47 Bolivar in 2014, an increase of more than 4 times. Financial strain is another major reason of low production.

The company's total production of crude steel in January and February is 241,300 tons this yea, up by 35.8% year on year.

                                                                                    Xinsteel News