WEEKLY: Chinese EAF mills output drops further

Steel production among China's electric-arc-furnace (EAF) steelmakers declined for the second straight week during January 23-29, as some mini-mills had already stopped operations ahead of the Chinese New Year (CNY) holiday, the findings of Mysteel's latest survey showed.

Over the survey period, the average capacity utilization rate among the 94 independent EAF steelmakers under Mysteel's tracking slid to 55.7%, falling at a faster rate of 2.2 percentage points from the previous week, while their average operation rate also dropped 2 percentage points on week to 70.7%. During the