Annual maintenance increased and blast furnace operating rate declined slightly [SMM blast furnace operating rate]

According to SMM research, on February 21, blast furnace operating rate was 88.7%, down 0.3% MoM. The blast furnace capacity utilization rate was 90.2%, down 0.18% from the previous period. The average daily pig iron output of sample steel plants was 2.1559 million mt, down 6,600 mt MoM.

During this period, 6 blast furnaces were overhauled and 4 blast furnaces resumed production. During the CNY break and the first week after the holiday, steel terminal demand and steel prices were weak. Routine maintenance of blast furnaces in steel plants increased, and blast furnace operation and pig iron showed a downward trend.

Looking forward to next week, according to SMM's current tracking, the number of blast furnace maintenance in steel plants is small, and some blast furnaces may still resume production as planned. The operating rate of blast furnaces and pig iron are showing an upward trend; however, considering that the recent steel prices swung on a soft note, some steel plants may have corresponding maintenance plan, and the increase in pig iron is expected to be less than expected.