Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial results for the first nine months of 2012.
In the January-September period of this year, Kardemir posted an operating profit of TRY 204.96 million ($113.83 million), slightly down from TRY 205.14 million in the same period of the previous year. Sales revenues of the company increased by 11.85 percent year on year to TRY 1.3 billion ($721.22 million).
In the first nine months this year, Kardemir produced 558,050 mt of metallurgical coke - up 1.32 percent, 1.4 million mt of crude steel - up 10.14 percent, and 88,271 mt of pig iron - increasing by 35.63 percent, all compared to January-September 2011. Meanwhile, in the period in question, the company's billet output totaled 789,617 mt, increasing by 7.44 percent, while its bloom output amounted to 302,624 mt, rising by 19.5 percent, both compared to the corresponding period of 2011.
During the given period, Kardemir's rebar output increased by 11.31 percent to 480,152 mt, its steel section production increased by 6.07 percent to 104,001 mt, while its rail product output totaled 78,746 mt - down 4.35 percent, all compared to the first nine months of the previous year.
In the given period, Kardemir's average rebar and billet sales prices were TRY 1.176/mt and TRY 1,081/mt respectively, compared to TRY 1,087/mt and TRY 1,041/mt in the corresponding period of last year.
$1 = TRY 1.80