In July 2024, Chinese blast furnace steel plants reported significant losses from rolled steel sales, primarily due to falling prices and demand. According to a Mysteel survey, the average loss from rebar sales reached 249 yuan per ton, a 151 yuan increase from June. Mills also lost an average of 150 yuan per ton on hot-rolled coil sales.
Seasonal factors and low end-user demand, exacerbated by adverse weather, contributed to these losses. Additionally, the production of steel decreased by 9.5% compared to June, reflecting ongoing market challenges.
