MYSTEEL: Less than 40% of Chinese BF mills remain profitable

Less than 40% of Chinese blast-furnace steel mills could make a profit on finished steel sales recently, as their production costs have stayed high, while domestic finished steel prices have hovered low amid the thin demand from end users in summer, Mysteel Global learned.

On July 16, among the 247 BF mills under Mysteel's regular tracking, only about 37.2% reported they could earn a margin on finished steel sales, slipping by 18.6 percentage points compared with one month earlier, according to Mysteel's latest survey. China's coking coal prices increased significantly over the past one