SHANGHAI, Jul 4 (SMM) - The following table is the latest situation of overhaul and production reduction of domestic BF-based steel mills surveyed and compiled by SMM.

According to SMM statistics, last week (June 25-July 1), 12 blast furnaces newly started maintenance in China, affecting the production of pig iron by 46,800 mt/day. As of July 1, the total pig iron reduction caused by blast furnace maintenance nationwide was 175,300 tonne per day, involving 49 blast furnaces.

The number of blast furnace newly started overhaul last week decreased by 8 compared with a week ago, showing a marginal decrease in new maintenance. However, considering that there are still many domestic steel mills under operating pressure, it is expected that the number of blast furnace entering maintenance will continue to increase slightly in early July. In the short term, under the influence of supply-side reductions, the pressure on the fundamentals of steel will be alleviated to a certain extent. However, due to the high occurrence of high temperature and rainy weather in July, the terminal demand will continue to be pressured, and the upward momentum of steel prices is insufficient. It is expected that the short-term finished product prices will still fall.