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National Independent Electric Arc Furnace Production Survey Statistics (June 14, 2024)

Jun 15, 2024

 

Weekly Report on Independent Electric Arc Furnace Production

Summary of Key Points:

  • Work Rate: The average work rate of 87 independent electric arc furnace steel mills is 71.02%, a slight increase of 0.01% from the previous period and 4.87% from the same period last year.
  • Capacity Utilization: The average capacity utilization rate is 54.39%, with a slight increase of 0.1% from the previous period and 6.47% from the same period last year.
  • Daily Steel Production: The daily average crude steel production has increased by 1.87%.
  • Product Profitability: Among the 76 steel mills producing construction materials, 23.68% are slightly profitable, 46.05% are breaking even, and 30.26% are at a loss.

Regional Insights:

The work rate has seen a slight increase in the South China region and a minor decrease in the Central China region, with other regions remaining stable. In terms of capacity utilization, there have been minor declines in the Northeast, East China, and Central China regions, with minor increases in North China, South China, and Southwest regions, and stability in the Northwest region.

Production and Profitability Trends:

Profitability levels among steel mills have declined noticeably, with a reduction of 9.21% in the proportion of slightly profitable mills compared to the previous period. Mills in East China and Northeast regions are now operating at a loss during off-peak electricity periods, leading to a decrease in production enthusiasm and a reduction in operating hours. In contrast, mills in the Western region are at a slight loss, with some breaking even, prompting some mills in Sichuan to increase operating hours to boost production.

Market Outlook:

Post-holiday, the futures market for rebar has weakened, and market sentiment is not optimistic. Spot prices have adjusted accordingly, with steel mills experiencing a significant contraction in profits. The production of steel mills is also affected by the raw material scrap steel, with some regions reporting average inflow and difficulty in collection, leading to a reduction in production time. Looking ahead, a steel mill in Fujian, East China, has resumed production on the 13th, involving a 100T electric arc furnace.

Forecast:

It is anticipated that due to higher losses in the South China region, mills there are more likely to choose maintenance or suspension, which may lead to a slight decrease in the work rate and capacity utilization rate of independent electric arc furnaces next week.

Recommendations:

For a comprehensive understanding of the steel market, consider subscribing to services that provide real-time industry news, steel mill price adjustments, and market trend analysis.

Disclaimer: The information provided is for reference only and does not constitute investment advice. Any decisions made by clients are at their own discretion.

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