Turkey's alloy bar producers' Q1 sales rise, profit falls

摘要

One of Turkey's largest alloy bar producers, Bursa-based Cemtas, raised its output and sales notably year on year in the first quarter, due partly to higher steel consumption in Turkey in that period, before the virus outbreak hit steel demand in mid-March. The company's net profit, however fell on year in that period. Sluggish market sentiment amid an industrial slowdown in Turkey hit Cemtas' output and domestic sales in Q1 while the company's exports also fell notably amid trade barriers. Cemtas' meltshop output rose by 44.1% year on year in Q1 to 42,150 mt, while the company's rolling mill recorded output of 35,830 mt, also up by 20% on year, as Q1 demand remained generally strong.