Steel production has fallen by 19% thus far this year
Nwitimes - Steel production has fallen by 19% for the year, while steel capacity utilization is down more than 21 percentage points as compared to the same time last year, largely as a result of the coronavirus pandemic that greatly disrupted demand for steel.
Great Lakes steel production rose by 11,000 tons last week, according to the American Iron and Steel Institute. Steel mills in the Great Lakes region, clustered mainly in Northwest Indiana, made 420,000 tons of metal, up from 409,000 tons the previous week, a 2.1% increase.
Overall, domestic steel mills in the United States made 1.268 million tons of steel last week, up 2.3% from 1.24 million tons the previous week and down 31.6% as compared to 1.854 million tons the same time a year prior.