[SMM Blast Furnace Operating Rate] As Steel Mills Resumed Production as Planned, Pig Iron Production Rose Slightly

According to an SMM survey, as of December 4, the operating rate of blast furnaces at 242 surveyed steel mills was 88.94%, down 0.22% WoW. The capacity utilisation rate of blast furnaces was 90.12%, up 0.37% WoW. The daily average pig iron production of the sample steel mills was 2.4101 million mt, up 10,100 mt WoW.

Image 1: Blast Furnace Operating Rate & Capacity Utilisation Rate

Data Source: SMM

Image 2: Future Pig Iron Forecast

Data Source: SMM

Recently, steel mill profits have slightly rebounded, and blast furnaces that were previously under maintenance have resumed production as planned, leading to a slight increase in pig iron production. However, as year-end approaches, some steel mills still have annual maintenance plans, and blast furnaces in north-west China are gradually entering winter break. This has led to an increase in blast furnace maintenance, and the operating rate of blast furnaces and subsequent pig iron production may continue to decline slightly.

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