Steel production profits are expected to slightly rebound in April

Looking back at the general steel market in March, as terminal enterprises accelerate the resumption of work and production, steel demand gradually recovers. At the same time, steel mills accelerate the resumption of production, and steel production continues to rebound. Looking ahead to April, there is still some room for recovery on both supply and demand sides of the market. At the same time, with the gradual decrease in raw material costs, steel production profits are expected to slightly rebound.

Steel mills actively resume production and steel production continues to rebound.
From the perspective of steel plant production, with the obvious recovery of terminal demand and the overall improvement of steel plant production profit after the Lantern Festival, domestic blast furnace and electric furnace steel plants actively resumed production, and the operating rate of blast furnace and electric furnace continued to rise, especially the recovery of electric furnace steel plants.

In terms of steel production, as of April 5th, China's total weekly steel production was 8.5719 million tons, an increase of 389000 tons month on month, or 4.8% month on month; Compared to the end of 2022, it increased by 545200 tons, with a month on month increase of 6.1%.

Since late February, the production profits of steel mills have recovered, and the maintenance and production reduction caused by losses have significantly decreased. The steel mills have continued to resume production.