NOTE: There will be no news and data updates over January 31-February 4 due to the Chinese New Year holiday.
UTC+8 ( BJT)

China's EAF capacity utilization rate hovers low at 44.6%


The steelmaking capacity utilization rate of China's 71 independent electric-arc-furnace (EAF) steelmaker under Mysteel's survey hovered low at 44.6% as of December 23, despite nudging up by a tiny 0.06 percentage point on week. Marker sources blamed thinning profit margins among EAF producers and insufficient scrap stocks for the lower run rate.
Some EAF steelmakers are also complaining that recent strengthening steel scrap prices are reducing their profits, Mysteel Global noted.   "If domestic scrap prices continued to move up, we will be at break-even," an official from an independent EAF steelmaker in East China's Jiangsu province lamented Tuesday, pointing out that his mill


To read the full article take a free 7-day trial to Mysteel Global

+65 6653 8227