[SMM Blast Furnace Operating Rate] Increase in Blast Furnace Maintenance Leads to Continued Decline in Operating Rate

According to the SMM survey, as of August 7, the operating rate of blast furnaces was 92.37%, down 0.54% WoW. The capacity utilization rate of blast furnaces was 94.50%, down 0.44% WoW. The average daily pig iron output of the sample steel mills was 2.2672 million mt, down 15,800 mt.

During this period, seven blast furnaces were under maintenance: one in Central China, five in North China, and one in Southwest China. Three blast furnaces resumed production: one each in Central China, North China, and North-east China. Due to the continuous decline in the end-user steel market, bearish sentiment in the market is growing. Steel mills are experiencing significant losses, leading to an increase in maintenance activities. Looking ahead, as the end-user steel market is unlikely to see a significant recovery in the short term, it is expected that the losses of steel mills will continue, and the operating rate of blast furnaces may continue to decline.