[SMM Survey] The Number of Blast Furnace Overhauls Began to Decrease in January, and Pig Iron Production Is Expected to Continue a Slight Rebound in February

Published: Feb 8, 2025 13:58

Save

[SMM Survey: Number of Blast Furnace Overhauls Began to Decline in January, Pig Iron Production Is Expected to Rebound Slightly in February] According to tracking survey data from SMM, 17 blast furnaces underwent overhauls in January, reducing daily pig iron production by 63,700 mt. Meanwhile, 24 blast furnaces resumed production, increasing daily pig iron production by 95,000 mt. SMM data shows that blast furnace overhauls in January resulted in a net reduction of pig iron production by 8.01 million mt, an increase of 60,000 mt compared to December. The average daily pig iron production decreased by approximately 2,000 mt. In February, 15 additional blast furnaces are expected to undergo overhauls, reducing average daily pig iron production by 59,600 mt; conversely, 19 blast furnaces are expected to resume production, increasing average daily pig iron production by 69,500 mt. The average daily pig iron production in February is expected to increase by approximately 26,900 mt...

According to SMM's tracking survey data, 17 blast furnaces underwent maintenance in January, reducing daily pig iron production by 63,700 mt. The maintenance was mainly concentrated in north China. Meanwhile, 24 blast furnaces resumed production, increasing daily pig iron production by 95,000 mt. Apart from north China, a significant number of blast furnaces resuming production were located in east China. The impact from blast furnace maintenance in January decreased significantly MoM compared to December.

SMM data shows that blast furnace maintenance in January resulted in a net reduction of 8.01 million mt of pig iron production, an increase of 60,000 mt compared to December. The average daily pig iron production decreased by approximately 2,000 mt.

According to SMM's tracking survey, 15 additional blast furnaces are expected to undergo maintenance in February, reducing daily pig iron production by 59,600 mt. Conversely, 19 blast furnaces are expected to resume production, increasing daily pig iron production by 69,500 mt. Based on current data, February blast furnace maintenance is expected to impact a total of 6.4842 million mt of pig iron, a decrease of 1.5271 million mt compared to January. Considering January had 31 working days and February has 28, the average daily pig iron production in February is expected to increase by approximately 26,900 mt.

Although most steel mills are currently operating with marginal profits and finished steel inventories remain relatively low YoY, in-plant inventory pressure is relatively small. However, February is an off-season for the industry, and downstream demand is recovering slowly, which may suppress the pace of blast furnace resumption. Therefore, SMM expects the actual number of blast furnaces undergoing maintenance and resuming production in February to exceed current estimates, leaving limited room for pig iron production to increase MoM compared to January. SMM will continue to track the situation weekly.

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

22 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.

22 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.

22 hours ago

23 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...

23 hours ago