Electric Furnace Steel Mill Operating Rate and Production Increased A Significant Rebound Is Expected Next Week

Published: Mar 4, 2026 10:56

Save

As of March 3, the operating rate of 50 electric-furnace steel mills nationwide that mainly produce construction steel was 10.76%, up 10.76% MoM from the previous period; the capacity utilization rate was 6.88%, up 6.88% MoM from the previous period; the daily average production of construction steel was 15,300 mt, up 15,300 mt MoM.
During the survey period (February 24–March 3), domestic spot construction steel prices fluctuated this week. After the holiday, downstream end-users had not fully resumed work, and purchases were mostly small, rigid demand. Overall market trading sentiment was subdued, and many regional markets showed a pattern of quoted prices but little to no transactions.
Domestic electric-furnace steel mills’ production resumptions continued to advance. Within this week, 11 electric-furnace enterprises resumed production in succession, driving a rapid rebound in the overall operating rate of electric furnaces, and construction steel production posted a notable increase MoM. Looking ahead, most electric-furnace steel mills were set to implement production resumption plans in a concentrated manner next week. As a result, the domestic electric-furnace operating rate was expected to see a sharp rebound, and supply on the construction steel side was set to expand further.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.minsAgo

Falling SHFE Copper Futures Prices Stimulated Downstream Orders, Driving a Steady Recovery in Spot Discounts [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, Shanghai spot copper discounts are expected to continue a mild recovery. Futures prices declined somewhat, and downstream enterprise orders increased. From the market structure perspective, the price spread between futures contracts for the next month and the C contract narrowed, and suppliers’ willingness to ship to delivery warehouse may decline. Supply side, domestic copper and previously price-locked imported cargoes continued to arrive; coupled with social inventory remaining at high levels, overall circulating supply in the market is ample. Demand side, downstream enterprises continued to advance work and production resumptions, providing some support to spot premiums. Overall, spot premiums showed a pattern of slow recovery and gradual stabilization.

Common.Time.minsAgo

1 hour ago

The Most-Traded SHFE Tin Contract Rebounded After Hitting the Down Limit; Amid Repeated Swings in Macro Sentiment, the Spot Market Mostly Stayed on the Sidelines [SMM Tin Midday Commentary]

[SMM Tin Midday Commentary: The Most-Traded SHFE Tin Contract Rebounded After Hitting the Down Limit; Amid Repeated Swings in Macro Sentiment, the Spot Market Remained Mostly on the Sidelines]

1 hour ago

Market Demand Improved, Spot Premiums Rose [SMM North China Spot Copper]

Today, spot #1 copper cathode in North China traded at a discount of 350–250 yuan/mt against the front-month contract, up 80 yuan/mt from the previous trading day. The average transaction price was 101,340 yuan/mt, down 180 yuan/mt from the previous trading day.

1 hour ago