Steel Products Prices North America
July 21, 2020
Steel Production Up for Sixth Week in a Row
Written by Tim Triplett
Domestic steelmakers continue to increase raw steel production with mill capacity nearing 60 percent once again, even as the spread of the coronavirus threatens new disruptions to the economy. Steel production moved up for the sixth week in a row to a total of 1,306,000 net tons in the period ending July 18 with the mills operating at an average utilization rate of 58.3 percent, reported the American Iron and Steel Institute. Production has increased 14.2 percent since the low point in early May.
Production last week was up 1.3 percent from the prior week when the utilization rate was 57.5 percent. The current week’s production still represents a 29.3 percent decrease from the same period last year.
