【Blast Furnace Operating Rate】Multiple steel mills resume production as planned. Blast furnace operating rate slightly increases.

Published: Mar 21, 2024 11:26

Source: SMM

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According to research by SMM, on March 20th, the blast furnace operating rate was 89.45%, marking a 0.3% increase compared to the previous period. The blast furnace capacity utilization rate stood at 90.38%, rising by 0.50% compared to the previous period. Additionally, the daily average hot metal production of sample steel mills reached 2.16 million tons, marking an increase of 11,900 tons compared to the previous period.

Image 1: Blast Furnace Operating Rate & Capacity Utilization Rate

Data resources：SMM

Image 2: Maintenance blast furnace & Reproduction blast furnace

Data resources：SMM

Image 3: Future hot metal prediction

Data resources：SMM

During this period, 5 blast furnaces underwent maintenance while 7 blast furnaces resumed production. Looking ahead, with the slow recovery of downstream steel demand, steel sales are expected to gradually improve. On the cost side, with the implementation of the sixth round of coke price adjustments, steel production costs are expected to improve significantly, which may lead to a recovery in production enthusiasm.

According to current tracking by SMM, there are no planned blast furnace maintenance activities for the next week, and 2 blast furnaces are scheduled to resume production. Coupled with the recent rebound in steel prices, blast furnaces that were previously under maintenance may resume operation earlier than expected. It is anticipated that the blast furnace operating rate will experience a slight increase again next week.

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