SMM Weekly Survey: Operating Rates Of Electric Furnace-Based Steel Mills Rise

SHANGHAI, May 25 (SMM) - According to SMM research, as of May 23, the operating rates of 34 electric furnace-based steel mills across the country who mainly produce rebar was 37.97%, up 3.71 percentage points from a week ago. The average capacity utilisation rate gained 4.18 percentage points week-on-week to 42.83%. Their daily average rebar output was 76,300 mt, up 7,400 mt on a weekly basis.

Steel prices moved in a narrow range during May 17-24, and steel scrap prices rose only slightly amid tight supply. Profits of steel mills were largely stable. Some steel mills in east and south China resumed production as planned.