U.S. steel capacity utilization is at its highest level since 2008

2Steel production in the great lakes rose to 717,000 tonnes last week, up 4.98 per cent from the previous week, while steel capacity utilisation rose to its highest level in more than a decade.

 According to the American Iron and Steel Institute, mills in the great lakes region produced 682,000 tonnes of Steel last week, up 34,000 tonnes from the previous week.Most of the steel in the great lakes is produced on the southern shore of lake Michigan and near port county, which accounts for half of the nation’s blast furnace capacity.

 Overall, domestic steel production was 1.927 million tons last week, up slightly from 1.907 million tons the week before.

 U.S. mills were using 81.1 percent of their capacity as of March 2, up from 75.7 percent a year earlier, according to the American iron and steel association.

 U.S. mills used 82.8 percent of their capacity in the week ended March 2, up from 81.9 percent the week before and 78 percent a year earlier, according to the American iron and steel association.

 That’s the highest U.S. capacity utilization since September 2008.

 Some analysts say 90 percent capacity utilization in the steel industry is considered economically beneficial, at least for the large integrated steel mills near lake Michigan in northwestern indiana, which have high fixed operating costs.But steel capacity utilization this year is significantly higher than comparable figures for the most recent downturn, when some blast furnaces were shut down in places like ArcelorMittal’s Indiana Harbor, east of Chicago.

 Domestic steel mills have produced 16.4 million tons of steel so far this year, up 6.9 percent from 2018.

 Steel production in the us south, which includes many short-run mills, fell to 717,000 tonnes last week, down from 736,000 tonnes the week before.

 Steel production in the Midwest rose to 208,000 tonnes last week, up from 205,000 tonnes the week before.

Post time: Mar-11-2019
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