WEEKLY: China's EAF production falls further

Steadily narrowing profit margins forced more electric-arc-furnace (EAF) steel producers in China to reduce or halt production this week, while waning steel demand also undermined the mills' production enthusiasm, the results of Mysteel's latest survey showed.

During November 22-28, average capacity utilization among the 87 domestic EAF mills under Mysteel's regular tracking decreased for the second straight week by another 0.19 percentage point to reach 53.51%. Over the same period, operational rates among these sampled 87 mills averaged 68.35%, lower by 1.43 percentage points from the