EAF steel production slightly resumes, is the September-October peak season coming?

According to the SMM survey, as of September 3, the operating rate of 50 major EAF steel mills producing construction materials nationwide was 19.76%, up 4.56 percentage points WoW. Looking ahead, in the past two weeks, the losses of steel mills have significantly reduced, raw material prices have gradually bottomed out, and with the traditional peak season approaching, the market has optimistic expectations for the trend. Both BF and EAF steel mills are resuming production. However, the current profit improvement for EAF steel mills is limited, and the operating rate of electric furnaces is expected to increase slightly in the next period.