WEEKLY: Chinese EAF mills' production climbs for 5th straight week

Over September 18-24, production among Chinese electric-arc-furnace (EAF) steelmakers increased for the fifth consecutive week, as more mills restarted furnaces after margins improved amid widening scrap-rebar price spreads, Mysteel’s survey showed.

The average capacity utilization rate among the 94 independent EAF steel producers across China rose by 0.95 percentage point on week to 57.8% during the latest survey period, while the average operational rate of these sampled steelmakers also increased by 1.84 percentage points to 71.23%, both at two-month highs. The increase was mainly observed