[SMM Blast Furnace Operating Rate] The number of blast furnaces under maintenance has significantly increased, and the operating rate has noticeably declined

According to the SMM survey, as of July 24, the operating rate of blast furnaces surveyed by SMM was 93.61%, down 0.55% WoW. The capacity utilization rate of blast furnaces was 95.52%, down 0.45% WoW. The average daily pig iron output of the sample steel mills was 2.2901 million mt, down 9,400 mt WoW.

In the week, five blast furnaces were under maintenance: one each in east China, central China, and North-east China, and two in north China. Two blast furnaces resumed production, both in north China. This week saw an increase in blast furnace maintenance, leading to a slight decrease in pig iron output. Looking ahead, recent sharp declines in steel prices have significantly impacted steel mill profits, creating a strong bearish sentiment in the market. Consequently, a certain decrease in pig iron output is expected. However, with new blast furnaces putting into operation next week, pig iron output is expected to increase significantly.