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Higher costs erode China EAF producers’ margins


The profit margins that China’s independent electric-arc-furnace (EAF) steelmakers are earning on their steel retreated last week amid the rises in their production costs and the slight softening of finished steel prices, according to Mysteel’s latest survey.
As of April 23, the margins of the 18 independent EAF mills under Mysteel’s regular survey averaged Yuan 423/tonne ($65.2/t), down Yuan 50/t on week. In the same week, the production costs of these 18 surveyed mills had increased by Yuan 42/t on week to average Yuan 4,583/t, according to Mysteel’s assessment. “The domestic steelmakers’robust scrap demand


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