This morning in metals news, U.S. steel production during the year to date is down 2.7%, a rise in demand for niche steel products could benefit Chinese steel mills and iron ore shipments from Australia’s Frances Creek mine are set to resume.
U.S. steel production falls 2.7%
U.S. steel production fell 2.7% year over year during the period through April 4, the American Iron and Steel Institute (AISI) reported this week.
Production during the period totaled 25.06 million tons at a capacity utilization rate of 79.4%, down from 25.77 million tons and 81.5% last year.
Niche steel demand could benefit Chinese mills
Demand for niche steel products could prove to be a boon for Chinese mills, Reuters reported, particularly amid an expected surge of infrastructure projects aimed at pulling the Chinese economy out of the doldrums.
Li Xinchuang said demand for specialty steel is expected to get a boost of 33 million tons from infrastructure projects, according to the report.
Iron ore exports to resume from Frances Creek
According to Australia’s ABC News, iron ore exports are set to resume from the Frances Creek mine in the Northern Territory.
According to Rodney Illingworth, director of Linecrest Pty Ltd (owner of the mine), most of the exports will be headed to Vietnam.