Profits of Chinese BF and EAF Mills Drop by 70 yuan/mt and 80 yuan/mt Respectively

SHANGHAI, Mar 14 (SMM) - According to SMM estimation, profits of rebar produced by BF mills in east China stood at -15 yuan/mt as of February 28, down 70 yuan/mt from the end of January. Profits of rebar produced by EAF steel mills were -84 yuan/mt, down 80 yuan/mt. In February, the active production resumption of domestic BF and EAF mills rapidly hiked up the raw material prices. In terms of steel, the demand climbed slowly, while the supply rose quickly, resulting in a lower price hike of steel than raw materials. And the mills' profit margins hovered at a low level.