Steel Scrap Consumption by BF Mills Rises in Mar amid Increase in Operating Rates and Scrap Use

SHANGHAI, Apr 11 (SMM) - SMM survey showed that the average operating rate of blast furnaces in the new sample stood at 94.05% as of March 30, up 1.78 percentage points MoM. The daily consumption of steel scrap across 110 BF mills surveyed by SMM stood at 201,000 mt in March, up 35.8% MoM. According to SMM research, 54 blast furnaces in China have resumed their production since January, driving the average daily pig iron output up to around 212,700 mt. On this basis, the scrap consumption by BF mills rose significantly. In addition, as the profits of steel mills improved in March, most mills have increased the use of scrap, which led to a sharp increase in steel scrap consumption. The operating rates of BF mills in China will also drop after surging in April on the shrinking profit margins, and the scrap consumption will be stable.