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WEEKLY: China BF capacity use dips again, but stays high

Blast furnace capacity utilization among the 247 Chinese steel mills Mysteel tracks eased by another 0.27 percentage point on week to 93.08% as of July 9. Nevertheless, this was still higher by 6.64 percentage points on year and remained around the highest level since Mysteel commenced the survey in March 2018, chiefly because most Chinese steelmakers are still producing as much as possible while their steel remains profitable, Mysteel Global notes.
Over July 3-9, the surveyed millsproduced around2.48 million tonnes/day of hot metal, lower by another tiny 7,200 t/don week. Also, the operational rate of blast furnaces among the 247 mills also fell furtherby 0.39percentage point on weekto 90.63%, according to Mysteel’s latest survey. “The usage rate declined mainly through the gradual

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