SHANGHAI, Apr 27 (SMM) - During the survey period (April 18-25), sharply falling steel prices further eroded steel mills’ profit margins, driving a large number of EF-based mills to trim their production.
East China: Most EF-based steel mills are now suffering losses, except for a few who still manage to make profits. The average operating rate lost 2 percentage points to 50%.
South China: Some EF-based steel mills are suffering losses of more than 150 yuan/mt and hold low levels of raw material inventories, driving them to lower their production. The average operating rate lost 9 percentage points to 44%.
Central China: Most EF-based steel mills maintained stable production amid poor profits. Some mills are suffering losses of more than 200 yuan/mt. A few steel mills have resumed production after completing their maintenance, driving the average operating rate up by 1 percentage point to 28%.
South-west China: Falling demand drove EF-based mills to cut output, dragging the average operating rate down by 5 percentage points to 37%.
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