Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Turkey’s Isdemir to halt BF for maintenance

Turkish integrated steel mill Isdemir,  a part of OYAK Mining Metallurgy Group, will stop one of its blast furnaces (BF) for a pre-scheduled maintenance this month. The planned shutdown will not impact its production plan, Davis Index learnt. Isdemir decided to stop the BF, which has a capacity of producing 7,000mt of pig iron per day, as it requires some repairs. The Isdemir steel mill has the capacity to produce 5.3mn mt of crude steel per year. It is the only integrated plant in Turkey, which produces both flat and long steel products.


Teck Resources cancels 2020 guidance

The COVID-19 pandemic has forced Teck Resources to reduce production at most of its sites because of which it has suspended its 2020 guidance, the miner said during a call with investors on Wednesday. Additionally, the company indicated that production will initially continue at an average of 80-85pc, including at its Highland Valley Copper project. Its Trail Operations will maintain planned production levels, despite using only a third of its workforce and production will remain unchanged at Carmen de Andacollo, Antamina, and Red Dog. However, Teck will suspend operations at its QB2 project, even after its original two-week production moratorium concludes. The Vancouver-based company stated it will update its guidance when it reports its Q1 2020 earnings in May.


Kloeckner appoints new CFO

Kloeckner Metals has promoted Andrea Moseley to the post of chief financial officer (CFO) effective Wednesday. Moseley will replace Kirk Johnson who retired earlier this week after serving the company for 37 years. Moseley joined Kloeckner in 2002 and prior to her current promotion served as the executive vice president of finance for the company. Apart from her duties as CFO, she will also be included in Kloeckner’s executive management team and work along with the chief operating officer of the firm on Kloeckner’s business strategy. 

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