WEEKLY: Chinese EAF mills increase output as profits improve slightly

Production of Chinese electric-arc-furnace (EAF) steelmakers rebounded modestly during October 8-14 as more mills switched on their electric furnaces amid a slight improvement in profit margins due to lower scrap prices, Mysteel's latest survey showed.

In the latest survey period, the average capacity utilization rate among the 94 independent EAF steel producers under Mysteel's tracking rose by 1.83 percentage points on week to reach 59.52%, while their average operational rate also climbed 1.16 percentage points from the prior week to 72.59%. The production recovery was observed mainly in East and