[SMM Blast Furnace Operating Rate] As End-User Demand Remained Weak, Blast Furnace Resumption Was Lower than Expected

According to the SMM survey, as of September 11, the operating rate of blast furnaces in 242 steel mills surveyed by SMM stood at 88.62%, up 0.26% WoW. The capacity utilisation rate of blast furnaces was 89.60%, up 0.03% WoW. The daily pig iron production of sample steel mills was 2.4072 million mt, up 800 mt WoW.

Image 1: Blast Furnace Operating Rate & Capacity Utilisation Rate

Data Source: SMM

Image 2: Pig Iron Forecast

Data Source: SMM

During this week, a total of 3 blast furnaces were under maintenance, while 5 blast furnaces resumed production. However, due to the recent decline in steel prices, the losses of some steel mills did not significantly improve, leading to delays in blast furnace resumption and a lack of significant increase in pig iron production. Looking ahead to next week, amid continued weak end-user demand, the profits of steel mills will remain under pressure, and some steel mills may continue to undertake blast furnace maintenance, potentially leading to a slight decrease in pig iron production.

190 Sample Steel Mills