Sao Paulo — Venezuela’s largest steelmaker Sidor is expected to finish 2018 at its lowest output level in the history, according to production data. According to sources, the company produced 50,128 mt of crude steel in the first eight months of the year. The company’s steelmaking operations have been offline since August while a few other areas, including its pellet plant, are operating at minimum levels, the sources said. Venezuela’s steel and iron markets remain at a standstill as a result of ongoing strikes since August in basic industry sectors, tightening supply and production. In 2017, the company produced 272,256 mt of crude steel, at that point its lowest annual output total. According to the World Steel Association, Venezuela produced around 121,000 mt of steel in the first 10 months of 2018, compared with 444,000 mt in the full-year 2017 period. Sidor’s continuous pickling line, one of the most […]