This Morning in Metals: U.S. steel capacity utilization rate hits 80.7%
This morning in metals news, the U.S. steel capacity utilization rate reached 80.7% for the year through March 28, steel industry workers in the Great Lakes region tested positive for the novel coronavirus (COVID-19) and copper clawed back some gains Tuesday.
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U.S. steel capacity utilization reaches 80.7%
U.S. steel mills produced 23.65 million tons this year through March 28, which marked a 1.0% decrease compared with the same period last year, according to the American Iron and Steel Institute (AISI).
Steel capacity utilization rate for the period was down to 80.7% (from 81.6% last year).
Workers at ArcelorMittal operations test positive for COVID-19
Two ArcelorMittal workers in Indiana and a contractor have tested positive for COVID-19, the Northwest Indiana Times reported.
A worker at the steelmaker’s Burns Harbor plant tested positive, as did another at the Gary Works, the paper reported. In addition, a contractor at Burns Harbor tested positive.
Copper rises Tuesday but still headed for quarterly plunge
Copper prices made some gains Tuesday but remain headed for their worst quarter since 2011, Reuters reported.
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LME copper was up 1.1% as of 11:57 GMT Tuesday but down 22% this quarter, according to Reuters.
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