Posted on 24 Jan 2024
Until January 17, the average operation rate of the 87 steel mills that use electric arc furnaces in China was 68.04%, 2.12% lower than the previous week and 6.6% lower than the previous month. Meanwhile, the production capacity utilization was calculated to be 58.62%, 2.87% lower than the previous week and 8.59% lower than the previous month.
The Spring Festival is near, so sales of finished products are not so well. As electric arc furnace mills now meet more difficulty in collecting scrap steel as raw materials for steel production, these mills keep cutting their production.
At the same time, some of the mills even chose to suspend the entire production. As a result, the operating rate and capacity utilization rate of electric arc furnace mills were expected to decline significantly this week.
Source:Yieh
