WEEKLY: Chinese EAF mill production drops rapidly

Widening losses on steel sales and waning demand among steel end-users led China's electric-arc-furnace (EAF) steelmakers to wind back production during the past week, Mysteel's latest survey showed.

During July 3-9, the average capacity utilization rate among the 94 independent EAF steel producers under Mysteel's tracking dropped for the third straight week by a significant 4.5 percentage points to 57%, while the average operational rate among these mills fell 3.3 percentage points from the prior week to