The group reported earnings before interest, taxes, depreciation and amortization (Ebitda) for January-September 2018 of TRY6,269,432,000 ($1,136,450,000*). This was up by 67.97% from Ebitda of TRY3,732,432,000 ($676,574,000*) reported for January-September 2017.
The average market price in the third quarter of 2018 for hot-rolled coil (HRC), one of the group’s principal products, was $630 per tonne, Erdemir said.
HRC prices in Turkey were not expected to increase in the short term, because of weak domestic demand. But market participants were uncertain about prospects for further price falls because of the high costs for scrap and other raw materials.
Fastmarkets’ assessment of the quarterly average price for domestic HRC in Turkey
in July-September 2018 was $602.71 per tonne ex-works.
Among the group’s total flat steel sales of 5.591 million tonnes in January-September, export volumes came to...