This morning in metals news, U.S. steel mills produced at a capacity utilization rate of 80.6% for the year through Feb. 9, U.S. steel mill shipments rose 4.8% in 2018 on a year-over-year basis and a Peruvian plant used to produce copper will be partially suspended for the next 3-5 days.
Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook
Capacity Rate Maintains Level Above 80%
U.S. raw steel production for the year through Feb. 9 reached 10.9 million tons, according to the American Iron and Steel Institute (AISI), up 9.3% from the 9.9 million tons produced during the same period in 2018.
For the aforementioned period this year, U.S. steel mills produced at a capacity utilization rate of 80.6%, up from 75.7% for the same period in 2018.
For the week ending Feb. 9, production hit 1.9 million tons at a capacity utilization rate of 81.5%.
December Steel Shipments Up 6.5%
According to another AISI report, U.S. steel mills in December shipped 7.8 million net tons, marking a 0.8% increase from the previous month and a 6.5% increase year over year.
Shipments for the full year hit 95.3 million net tons, up 4.8% compared with 2017 shipments.
For more efficient carbon steel buying strategies, take a free trial of MetalMiner’s Monthly Outlook!
Southern Copper Corp. Announces Suspension of Peru Plant
According to a Reuters report, Southern Copper Corp. announced the partial suspension of a plant in Peru used to produce copper.
The plant will not restart for another 3-5 days, according to the report, as the miner works on tailings and railway infrastructure.