SMM Survey on Operating Rates of EAF Mills Feb 21-28

SHANGHAI, Mar 1 (SMM)－According to SMM survey of 34 independent EAF-based steel mills that produce construction steel, their operating rates averaged 48.18% as of February 28, up 3.86 percentage points from the previous research cycle and down 17.42 percentage points YoY.

During the survey period (February 21-February 28), the fluctuation of finished product prices weakened, and the prices of steel scrap fell slightly. Some steel mills resumed production as scheduled, and the weekly operating rate rose slightly.

In the follow-up, due to the recent production resumption of some steel mills, the overall output of EAF mills has increased slightly. In addition, the market demand has gradually recovered, driving the steel mills’ production enthusiasm. However, the short-term price fluctuations of futures and spots will cast a certain impact on the sales of steel mills and reduce the mills’ production. SMM believes that the operating rates of EAF mills will increase slightly next week.