[SMM Blast Furnace Operating Rate] As Annual Maintenance of Blast Furnaces Increased, Pig Iron Production Slightly Declined

According to the SMM survey, as of December 25, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 85.37%, down 0.1 percentage point WoW. The capacity utilisation rate of blast furnaces stood at 86.91%, also down 0.1 percentage point WoW. The daily pig iron production of the sample steel mills was 2.3446 million mt, down 3,000 mt WoW.

During this period, six blast furnaces were shut down for maintenance, while five resumed production. The maintenance activities were mainly concentrated in north and east China. Due to the continued pressure on steel mill profits recently, some steel mills in certain regions experienced losses again. Coupled with the impact of annual maintenance plans at some mills, overall pig iron production showed a downward trend. Looking ahead to next week, affected by high steel inventories and profit pressure, some steel mills in north, east, and south-west China are planning annual maintenance, and pig iron production is expected to decline slightly further.