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Weakening steel prices keep eroding EAF mill margins

ABSTRACT

The profit margins that China’s independent electric-arc-furnace (EAF) steelmakers are earning on their steel continue to be dragged down by rises in production costs and the continuous decrease in finished steel prices.
Mysteel’s latest survey shows that as of July 1, the margins that the 18 independent EAF producers sampled nationwide are earning averaged Yuan 33/tonne ($5.1/t) last week, down another Yuan 40/t on week. The summer slump in steel demand is causing domestic steel prices to continue to soften, the survey findings show. This is squeezing the

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