【EAF steel】Futures rebar market strengthened, EAF production rebounded slightly

This week, China's steel market rose slightly, the trading volume continued to grow modestly, the overall inventory decreased, and some traders even appropriately controlled shipments. Graphite electrode is mainly used for EAF steelmaking, learn more. As of March 9, domestic rebar average price was 4304 yuan, up 37 yuan from last Friday.  

In terms of raw materials, this week's scrap steel market generally rose first and then fell. The arrived quantity and inventory quantity of steel plants both increased. The steel plants' scrap steel average purchase price (electric furnace material) increased by 9 yuan to 2870 yuan (Not Invoiced) from last week, and some steel plants' purchase price decreased slightly after the second half of the week. As the cost of scrap steel and molten iron has been inverted for three consecutive weeks, the profitability of the EAF plants has continued to improve this week. The southern steel plants have actively started production, and some northern steel plants have also resumed production in advance.

According to statistics, this week the EAF capacity utilization rate of China's 135 steel plants was 51.01%, an increase of 3.52% compared with last week, and the EAF steel production was 286300 tons/day. Due to the major projects Funds in place and the manufacturing demand recovered obviously, the steel market demand continues to improve, and traders have little inventory pressure, the overall market performance was positive. In the short term, the steel market is expected to fluctuate and operate strongly, and in the case of limited profit, the EAF steel production will continue to recover slightly. Follow us for the latest electric furnace market reports.