Graphite electrodes are key materials for EAF steelmaking, mainly used for arc heating. With excellent conductivity and high-temperature resistance, they are crucial for improving EAF production efficiency and quality.

【EAF Steel】Tariff Standoff Eases, Ferrous Market Weakly Rebounds

This week, signs of easing in the tariff standoff emerged, leading to a weak rebound in the domestic steel market with slightly improved transaction activity. As of April 24, the average rebar price in China stood at RMB 3,219 per ton, up RMB 30 from the previous week.

On the raw material side, domestic scrap steel prices mostly rose, with the average EAF steel plant procurement price increasing by RMB 12 week-on-week to RMB 2,155 per ton (excluding tax). EAF steel plant profits slightly recovered, but most producers remained in a loss-making state. With the May Day holiday approaching, some EAF steel plants in Fujian proactively halted production for maintenance.

According to statistics, as of April 24, the capacity utilization rate of 135 EAF steel plants in China reached 52.9%, up 0.68% from the previous week, with daily EAF steel output at 331,100 tons.

As the short-term impact of the tariff dispute diminishes and manufacturing demand gradually recovers, the domestic steel market is expected to continue warming after the May Day holiday. However, the real estate sector remains in a bottoming phase, with Q1 developer funding and new construction area down 3.7% and 24.4% year-on-year, respectively. EAF steel plants, which mainly produce long products, are under significant sales pressure. Without strong policy support in Q2, the further rise in the EAF steel ratio will face considerable challenges.

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