Steel Scrap Consumption by Steel Mills to Rise with Mills' Production Resumption

SHANGHAI, Mar 14 (SMM) - According to SMM research, 55 blast furnaces in China have resumed their production since January, driving the average daily pig iron output up to around 200,000 mt. On this basis, the consumption of scrap by BF mills rose significantly. Short-term scrap consumption by BF mills will hardly grow owing to the higher price hike of steel scrap than pig iron costs. But the scrap consumption will still increase in the future when some Chinese blast furnaces resume operation.