Output retreats as fewer Chinese BF mills gain profits

The weakness in finished steel prices has caused the number of Chinese integrated steel mills earning profits on steel sales to continue decreasing, Mysteel Global has learned, persuading some domestic steelmakers to slow their pace of production.

Mysteel's latest weekly survey among the 247 blast-furnace mills nationwide showed that as of November 7, the ratio of steelmakers earning positive margins on steel sales was 59.74%, down for the third consecutive week by another 1.3 percentage points on week, or lower by 14.72 percentage points from the