Steel mill profits improve, pig iron production increases slightly

Published: Sep 23, 2024 11:27

Source: SMM

Save

According to the SMM survey, on September 18, the operating rate of blast furnaces in 242 steel mills surveyed by SMM was 88.75%, up 0.13% WoW.

According to the SMM survey, on September 18, the operating rate of blast furnaces in 242 steel mills surveyed by SMM was 88.75%, up 0.13% WoW. The capacity utilisation rate of blast furnaces was 89.76%, up 0.16% WoW. The daily average pig iron production of the sample steel mills was 2.4116 million mt, up 4,400 mt WoW.

According to SMM statistics, during this period, a total of three blast furnaces were shut down for maintenance, while four blast furnaces resumed production. Recently, the cost pressure of raw materials for steel mills has eased somewhat, and profits have slightly increased. This has slowed down the addition of new blast furnace maintenance, and the blast furnaces that were previously under maintenance have resumed production as planned, showing a slight upward trend in pig iron production.

Looking ahead to this week, end-user demand is expected to continue to improve, and steel mill profits may further recover. If the blast furnaces that were previously under maintenance resume production as planned, pig iron production is expected to continue to rise.

Market forecast Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

21 hours ago

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

21 hours ago

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

21 hours ago

22 hours ago

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

22 hours ago