EF Steel Mill Operating Rates to See Significant Rebound Next Week

Published: Mar 4, 2026 10:56

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As of March 3, the operating rate of 50 electric-furnace steel mills nationwide that mainly produce construction steel was 10.76%, up 10.76% MoM from the previous period; the capacity utilization rate was 6.88%, up 6.88% MoM from the previous period; the daily average production of construction steel was 15,300 mt, up 15,300 mt MoM.
During the survey period (February 24–March 3), domestic spot construction steel prices fluctuated this week. After the holiday, downstream end-users had not fully resumed work, and purchases were mostly small, rigid demand. Overall market trading sentiment was subdued, and many regional markets showed a pattern of quoted prices but little to no transactions.
Domestic electric-furnace steel mills’ production resumptions continued to advance. Within this week, 11 electric-furnace enterprises resumed production in succession, driving a rapid rebound in the overall operating rate of electric furnaces, and construction steel production posted a notable increase MoM. Looking ahead, most electric-furnace steel mills were set to implement production resumption plans in a concentrated manner next week. As a result, the domestic electric-furnace operating rate was expected to see a sharp rebound, and supply on the construction steel side was set to expand further.

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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