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】"Rush Shipment Wave" Drives Weak Rebound

With the easing of the China-U.S. tariff standoff, overall confidence in China's steel market improved this week, and prices generally edged up slightly, although downstream transactions remained mediocre. As of May 15, the average price of rebar in China stood at 3,241 yuan, up 23 yuan from last week.

In terms of raw materials, domestic scrap steel prices first declined and then rebounded this week. In the latter half of the week, steel mills successively raised purchase prices to restock inventories, leading to a recovery in arrivals. However, since the average increase in scrap prices slightly exceeded that of finished steel, EAF mills have not seen a significant improvement in profit margins, and production growth remains limited.

According to statistics, as of May 15, the capacity utilization rate of 135 EAF steel mills in China was 53.03%, up 0.52% from last week, with daily EAF steel output at 331,900 tons.

This week's rebound in the ferrous market was mainly driven by improvements in export conditions, with a 90-day window triggering a wave of "rush shipments." However, in comparison, domestic demand growth in China remains relatively weak. Therefore, the sustainability and extent of the rebound still need to be observed. In the short term, EAF steel production is expected to increase moderately, but with limited upside.

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