China’s central authorities mull guidelines for EAF steelmaking

Published: Jul 31, 2019 14:19

Save

Wang also highlighted the potential damage from sharp increases in prices of iron ore

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.”

EAF steelmaking

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 hours ago

[SMM Steel] India Domestic Steel Prices Edge Up

[India Domestic] Domestic steel market up slightly day to day amid relatively tight raw material availability. Maharashtra market remained relatively slow due to the ongoing Ganesh Chaturthi festival. Mandi HMS 1&2 (80:20) up by 1.04USD/tonne (100INR/tonne) to 410.58USD/tonne (39,400INR/tonne) delivered Mandi. Melting up by 1.04USD/tonne (100INR/tonne) to 403.29USD/tonne (38,700INR/tonne) ex-yard Alang. PDRI sponge iron up by 3.12USD/tonne (300INR/tonne) to 307.41USD/tonne (29,500INR/tonne) EXW Raipur. Bellary PDRI sponge iron rose by 3.12USD/tonne (300INR/tonne) to 326.16USD/tonne (31,300INR/tonne) EXW Bellary with sellers quoting around 328.28USD/tonne (31,500INR/tonne), buyers at 324-325USD/tonne (31,100–31,200INR/tonne) and heard some deals reportedly closing near 31,300INR/tonne. Raipur billet increased by 1.04USD/tonne (100INR/tonne) to 463.72USD/tonne (44,500INR/tonne) EXW Raipur. With the monsoon season nearing its end, construction activity is picking up pace, which may support demand and prices in the near term.

7 hours ago

8 hours ago

Copper Prices Stop Falling and Stabilize; Copper Scrap Suppliers Hold Prices Firm While Selling [SMM Secondary Copper Daily Review]

8 hours ago

9 hours ago

[India’s Vehicle Retail Sales Rise 17.51% YoY in August]

India's overall vehicle retail sales touched 2.42 million units in August 2026, the best-ever August on record, growing 17.51% year-on-year but dropped 6.48% compared to July. The yearly jump mainly happened because last year's sales were low, as buyers had delayed their purchases while waiting for the GST 2.0 rate cut. The monthly dip is just a normal slowdown after July's record numbers, with some festive buying like Ganesh Chaturthi and Onam shifting to September this year. Within this, Passenger Vehicle (PV) sales stood at 402,398 units, up 16.14% YoY, though down 3.40% MoM. Adding to the story, alternative-fuel vehicles (CNG, hybrid, EV) overtook petrol cars for the first time in India's history, at 41.95% share versus petrol's 40.85%, as buyers increasingly shift away from petrol due to running-cost savings and hesitation around the E20 fuel change.

9 hours ago