WEEKLY: Chinese EAF mills' production retreats further

Production among China's electric-arc-furnace (EAF) steelmakers pulled back further during the past week, as steel prices continued to weaken and demand among end-users eased more, the findings of Mysteel's latest survey showed.

During June 26-July 2, the average capacity utilization rate among the 94 independent EAF steel producers under Mysteel's tracking decreased for the second straight week by another 0.6 percentage point to reach 61.6%, while their average operational rate also slipped 0.2 percentage point to 74.2%. In the latest survey period,