SMM Survey: Demand Weakens in Off-Season, Number of Blast Furnace Restarts Plummets

Entering July, the steel market is affected by the combination of the rainy season and high temperatures, leading to a significant decline in end-user demand and an accelerated inventory buildup. Steel mills' production enthusiasm also weakened, with both blast furnace maintenance and production resumption plans reduced. According to the latest tracking data from SMM, five blast furnaces are scheduled for maintenance in July, with a daily pig iron output reduction of 19,100 mt; while six blast furnaces are scheduled for resumption, with a daily pig iron output increase of 35,900 mt. It is expected that the total pig iron output in June will decrease by 3.7809 million mt, down 712,700 mt MoM, but the daily pig iron output will increase by approximately 23,000 mt.