Posted on 03 Jan 2023
As of December 21, the operating rate of China’s independent electric arc furnace (EAF) steel mills was 46.68%, decreasing by 7.14% week on week and falling by 14.79% month on month. The capacity utilization was 44.76%, a week-on-week decrease of 3.9% and a month-on-month drop of 8.22%.
In the short term, the supply-demand of scarp was tightened, and China’s EAF steel mills faced a deficit. Also, the demand for the finished product stayed at a low level. As a result, more and more steel mills would idle or cut their production. The operating rate and capacity utilization was forecasted to keep going down next week.
Source:Yieh
