Lack of raw materials hampers steelmaker Sidor’s operations
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    Lack of raw materials hampers steelmaker Sidor’s operations

    Sidor has stopped operations due to lack of raw materials. According to Platts, the biggest steelmaker in Venezuela is hurt by slumping oil prices, dropping as low as $30 per barrel last year. Oil is the country’s main export and the steel industry relies heavily on it. Sidor has a capacity to produce 2.8 million mt of hot coil, 1.7 million mt of cold coil, 390,000 mt of rebar and 600,000 mt of wire rod annually.

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