MMi Daily Iron Ore Report (January 26)

Planned output of construction steel rebar across China's major blast furnace steelmakers is estimated to rise 0.13% from the achieved production in March to 8.13 million mt in April, showed an SMM survey.

Recently, a total of more than a dozen of listed steel mills in A-shares have released their Q3 reports. Shougang, Anshan Iron and Steel, and Shasteel have doubled their net profits in the third quarter.

Chinese electric arc furnace (EAF) steelmakers operating rates have recovered for the third consecutive week as of July 28, as inventory pressure at plants continued to ease with an improvement in shipments as the impact of wet season waned. 

Some steel mills carried out maintenance on their blast furnaces amid the impact of rainfall-induced floods. The floods had led to the closure of some ports along the Yangtze River, deterring shipments of raw materials and finished products. SMM expects the operating rates to stay steady at high levels next week. 

Chinese electric arc furnace (EAF) steelmakers operating rates have inched up as of July 22 as shipments improved and stock pressure at steel mills eased after the wet season ended in some regions, like South China.

Operating rates of blast furnaces at Chinese steelmakers increased over the third week of July, rising 0.19 percentage point from a week ago to an average 90.29%, showed an SMM survey. The increment comes from the end of maintenance in some of the steel mills. It is estimated that the operating rates will remain stable next week.

The China’s top steelmaking hub will activate level II smog control measures from noon today February 18

Social inventories of long steel (including wire rods and rebar) in Guangzhou stood at 2.05 million mt as of February 12

An SMM survey showed that operating rates across EAF steel mills in China were almost zero as of Tuesday February 11

This is expected to impact daily output by an average of 11,000 mt during Sep 1-15