[SMM Blast Furnace Operating Rate] Maintenance of blast furnaces slows down, pig iron production rises slightly

According to the SMM survey, as of June 25, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 87.96%, up 0.26 percentage points MoM. The capacity utilization rate of blast furnaces was 89.45%, up 0.35 percentage points MoM. The daily average pig iron production of the sampled steel mills was 2.4179 million mt, up 9,500 mt MoM.

During this period, there were no blast furnace maintenance activities, and three blast furnaces resumed production, mainly concentrated in Liaoning, Inner Mongolia, and Jiangsu regions. Overall, with the fourth round of coke price reductions recently implemented, the profits of integrated steel mills have slightly increased again, and the overall production willingness of steel mills remains strong, with pig iron production still at a relatively high level. Looking ahead to next week, according to SMM's current tracking, pig iron production at steel mill blast furnaces is still expected to remain at a relatively high level, with blast furnaces continuing to resume production one after another, and overall pig iron production showing a slight increase. However, the reduction of crude steel production at steel mills in the north-east China region may be implemented, leading to a potential decline in pig iron production in some local areas.