WEEKLY: Chinese EAF mills output falls more rapidly

Steel production among Chinese electric-arc-furnace (EAF) steelmakers dropped at a faster rate during January 30-February 5, as more mills stopped operations and kicked off the holiday early to celebrate the Chinese New Year (CNY), Mysteel's latest survey showed.

During the latest survey period, the average capacity utilization rate among the 94 independent EAF steelmakers under Mysteel's tracking slid for the third straight week, down by a marked 7.6 percentage points on week to sit at 48.1%, while their operational rates also slumped by 13.3 percentage points from