Operating rate of BFs inched down amid intensifying maintenance, while most EF steel mills planned to resume production after Lantern Festival due to weaker-than-expected steel prices 

As of February 21, the operating rate of BF steel mills was 88.7%, down 0.3 percentage points from pre-holiday level, SMM survey showed. According to SMM's current tracking, steel price slip may leave some steel mills with a plan of scheduled maintenance, feeding into lower-than-expected pig iron output.

According to SMM survey of 50 EF steel mills that mainly produce construction steel, their operating rates was 3.44% as of February 20, up 3.44 percentage points from pre-holiday level. Looking ahead, output of EFs may surge this week amid expectations of intensive production resumption after Lantern Festival.