MYSTEEL: Some EAFs back on stream, scrap use grows
Sep 26, 2019 19:10
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Many electric-arc furnace (EAF) steelmakers across China have returned to the market to procure scrap after gradually resuming production following stoppages for maintenance, according to Mysteel’s latest survey released on September 25. Others whose furnaces are still switched off are nonetheless preparing to re-enter the market as the profit margins available for EAF producers are increasing, respondents said.
“We restarted our EAF operations two days ago,” said an EAF mill official in Jiangyin city in East China’s Jiangsu province on Thursday. “Our profits are recovering to Yuan 100/tonne ($14.1/t) on lower costs,” he disclosed.
The cost to EAF mills for producing rebar has decreased to Yuan 3,600-3,750/t including the