The average operating rate of blast furnaces rose 0.59% from a week ago to 90.94%, as of April 10, SMM survey showed. The average capacity utilisation rate stood at 91.95%, up 0.61% WoW. The daily average pig iron output of the steel mills in SMM's survey sample stood at 2.1979 million mt last week, an icrease of 14,600 mt from the previous week.
Figure 1: Blast furnace operating rates and capacity utilisation rate
Data source: SMM
Figure 2: Resumption of blast furnaces/maintenance of blast furnaces
Data source: SMM
Figure 3: Pig iron output forecast
Data source: SMM
During this period, one blast furnace was overhauled and five blast furnaces resumed production; terminal demand and steel mill profits improved again, and steel mill maintenance slowed down significantly; most of the blast furnaces that were overhauled earlier resumed production as planned, operating rate of blast furnace and output of pig iron were expected to rise.
Looking at the next cycle, pig iron production will increase significantly once the overhauled blast furnace resumed operations as planned. However, iron ore price rise amid the coke price hike next week will cut steel mill profits, the increase in pig iron and blast furnace operating rate may be lower than expected.
Operating rates of 242 blast furnace were released!
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