The blast furnace capacity utilization rate among the 247 Chinese steelmakers decreased by another 1.32 points to 86.31% for the third week in a row, from October 28 to November 3. Permanent profit losses continue due to low demand for steel.
A market analyst commented, "The approaching cold weather in some parts of China has greatly affected outdoor construction activities, resulting in seasonally sluggish steel demand in the physical market, which will put further pressure on steel prices."
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