This morning in metals news, the U.S.’s steel capacity utilization rate is 80.3% for the year through Nov. 9, up to 40 layoffs are coming at U.S. Steel’s Minnesota taconite operations and a South African steel plant operated by ArcelorMittal is being shut down.
Capacity Utilization Reaches 80.3%
The U.S. steel industry’s capacity utilization rate reached 80.5% for the week ending Nov. 9, according to the American Iron and Steel Institute (AISI).
Capacity utilization for the year to date was 80.3%.
The sector produced 1.86 million tons of steel for the week ending Nov. 9, down 2.2% on a year-over-year basis and down 1.4% from the previous week.
Up to 40 Layoffs Coming at U.S. Steel’s Minnesota Plants
Challenging market conditions are prompting U.S. Steel to lay off up to 40 nonunion workers at two Minnesota taconite plants, the Minneapolis Star-Tribune reported.
According to the report, the Minntac and Keetac mines employ a total of approximately 2,200 workers.
ArcelorMittal to Shutter Saldanha Plant
Steelmaker ArcelorMittal will close its Saldanha steel plant in South Africa, India Today reported.
“This difficult decision was taken in the context of constructive ongoing engagements with key stakeholders, including government and organised labour, to find alternative solutions to the dire situation in the South African steel industry,” the company was quoted as saying.