This morning in metals news, the U.S. steel industry posted its highest weekly capacity utilization ratio since 2014, U.S. Steel workers hope to see a windfall from rising steel prices and Canada is holding firm in NAFTA talks.
Steel Capacity Utilization Rises
The U.S.’s steel capacity utilization rate for the week ending Sept. 1 hit its highest level since 2014, according to S&P Global Platts.
According to the American Iron and Steel Institute (AISI), the rate hit 79.8% for the week. Production for the week reached 1.87 million net tons.
U.S. Steel Workers Want Trade War Benefits
Workers at U.S. Steel, whose contract ran out Sept. 1, remain on the job — but they’re looking for the benefits from a trade war that has yielded rising steel prices, Bloomberg reported.
According to a statement from United Steelworks (USW), the union has not received a pay increase in three years.
NAFTA Talks Continue
Talks between the U.S. and Canada continued from last week into this week on the heels of an agreement in principle reached between the U.S. and Mexico.
However, Canada is holding firm and indicating it does not plan to agree to just any deal to modernize the 24-year-old trilateral trade pact, according to a government source cited by Reuters.