WEEKLY: Chinese EAF mills further cut output to stem losses

Production of Chinese electric-arc-furnace (EAF) steelmakers slid for the fourth straight week during August 14-20 amid increased maintenance stoppages among the mills, Mysteel's survey showed.

In the latest survey period, the average capacity utilization rate among the 94 independent EAF steel producers under Mysteel's tracking dropped at a faster rate, down by 2.71 percentage points on week to reach 51.32%, while their average operational rate also dropped 2.72 percentage points from the prior week