[SMM Blast Furnace Operating Rate] As Steel Mill Profits Shrank, Pig Iron Production Slightly Declined

Published: Nov 07, 2024 10:59 (GMT+8)

Source: SMM

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According to an SMM survey, on November 6, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 90.60%, flat WoW.

According to an SMM survey, on November 6, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 90.60%, flat WoW. The capacity utilisation rate of blast furnaces was 91.05%, down 0.12% WoW. The daily pig iron production of the sample steel mills was 2.4465 million mt, down 4,000 mt WoW.

Image 1: Blast Furnace Operating Rate & Capacity Utilisation Rate

Data Source: SMM

Image 2: Future Pig Iron Forecast

Data Source: SMM

During this period, two blast furnaces underwent maintenance, and another two blast furnaces resumed production. As the year-end approaches, the routine annual maintenance of some blast furnaces, combined with the recent decline in steel mill profits, has led to the lower-than-expected resumption of blast furnaces at some steel mills, resulting in a slight decline in overall pig iron production.

According to the latest tracking by SMM, some steel mills still plan to resume blast furnace production on schedule next week, and pig iron production may rise again. However, considering the recent mediocre steel demand and the gradually decreasing temperatures, some steel mills in north-west China may have new winter shutdown plans, and the growth in pig iron production may be lower than expected.

190 Sample Blast Furnace Operating Rate

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.

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