This Morning in Metals: U.S. Steel Capacity Utilization Rate Reaches 81.7%

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Pavel Ignatov/Adobe Stock

This morning in metals news, steel production for the year through May 4 reached 33.7 million tons, Japan’s March steel exports jumped and Dalian iron ore futures made gains on supply concerns.

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U.S. Steel Production

According to the American Iron and Steel Institute (AISI), U.S. raw steel production for the week ending May 4 was 1.9 million net tons, at a capacity utilization rate of 82.3%. The week’s production marked a 6.6% increase from production for the equivalent week in 2018. 

Meanwhile, year-to-date production through May 4 hit 33.7 million tons, at a capacity utilization rate of 81.7%. 

Japan’s Steel Exports

Japan’s steel export levels surged 18.3% in March compared with the previous month, S&P Global Platts reported.

Exports, however, fell 17.9% on a year-over-year basis, according to the report.

Dalian Iron Ore Futures

Dalian iron ore futures jumped 4% Tuesday, Reuters reported, partially aided by supply-side concerns stemming from Brazilian miner Vale’s Brucutu iron ore mining complex.

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According to the report, a court order reversed a previous decision that had allowed Vale to reopen its Brucutu mine in the state of Minas Gerais.

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