Steel production plummets by 12.4% during coronavirus crisis
Nwitimes - Steel production has plunged by 12.4% for the year, while steel capacity utilization is down more than 25 percentage points as compared to the same time last year. Auto plants are shutting down and consumer spending is slowing down to a near-standstill during the coronavirus pandemic.
Great Lakes steel production fell by 3,000 tons last week, dipping under 400,000 tons for the first time in years, according to the American Iron and Steel Institute.
Steel mills in the Great Lakes region, clustered mainly in Northwest Indiana, made 398,000 tons of metal, down from 401,000 tons the previous week and down from 608,000 tons just six weeks ago, the American Iron and Steel Institute reported.