WEEKLY: Chinese EAF mills' production drops further

Production among Chinese electric-arc-furnace (EAF) steelmakers continued to shrink in the past week as more mills reined in output due to thinning profit margins, Mysteel's latest survey showed.

During July 31-August 6, the average capacity utilization rate among the 94 independent EAF steel producers under Mysteel's tracking dropped for the second straight week by another 1.1 percentage points on week to 54.3%, although their average operational rate stood unchanged on week at 69.5%. A few mini-mills in East