Mysteel Steel plant maintenance and production in November

According to incomplete statistics from Mysteel, as of November 11, 20 domestic steel mills have issued maintenance plans. Among them, Guangdong Guoxin Iron and Steel plans to start maintenance on a 850m3 blast furnace on November 13, 2022. It is expected to resume production in early February 2023, affecting the production of molten iron of 2,500 tons per day.

As of November 11, Mysteel surveyed 247 steel mills whose blast furnace operating rate was 77.21%, down 1.57% week-on-week; blast furnace ironmaking capacity utilization was 84.09%, down 2.23% week-on-week. During the same period, the average operating rate of 85 independent electric arc furnace steel mills across the country was 62.58%, down 0.30% from the previous week; the capacity utilization rate was 54.44%, down 0.19% from the previous week.

Mysteel forecasts a slightly wider decline in crude steel output in early November. In the first ten days of November, the estimated output of crude steel in the country was 28.1468 million tons, and the average daily output in the first ten days was 2.8147 million tons, a decrease of 1.85% from the end of October and a year-on-year increase of 13.33%.

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