China’s central authorities mull guidelines for EAF steelmaking

SHANGHAI, Jul 31 (SMM) – Chinese policymakers are attempting to iron out a guideline to propel the development of electric arc furnace (EAF) steelmaking, and plan to unveil it within this year, said Wang Wei, director of the materials division of the Ministry of Industry and Information Technology (MIIT), at a meeting of the China Iron and Steel Association (CISA) on Monday July 29.

Wang also highlighted the potential damage from sharp increases in prices of raw materials for steelmaking, such as iron ore.

Significantly higher prices of raw materials will hurt profits among steelmakers and even push them into losses, which will “leave all efforts in supply-side reform in the steel sector in vain.”