BHP forecasts rise in Chinese steel mill utilization rates, inventories

BHP expects China’s blast furnaces to return to their high utilization rates prevalent before restrictions were put in place for the country’s November-March winter heating season in the northern region.

It expects this to start sometime in June. “This is required due to the gap in construction steel supply left by the permanent closure of induction furnaces,” BHP said in an outlook report. The miner estimates that mills in China would raise their utilization rates to the 80% level in the long run in line with...

Published

Paul Lim

February 21, 2018

07:08 GMT

Singapore