This morning in metals news: the February 2021 MetalMiner Monthly Metal Outlook (MMO) report is out; the US steel sector’s capacity utilization rate reached 76.1%; and US industrial production rose in December.
February 2021 Monthly Metal Outlook report available
The February 20201 MetalMiner Monthly Metal Outlook (MMO) is now available. Readers will find news, analysis and much more covering copper, aluminum, nickel/stainless, tin, lead, zinc, HRC, CRC, HDG and plate.
The February report recaps price trends and relevant metals sector developments at the start of the new year. Furthermore, subscribers have access to industrial buying strategies and support and resistance levels for each of the aforementioned metals.
However, the report is only available to subscribers. Don’t miss out on the MMO report’s invaluable insights — visit the MMO landing page for more information.
US steel production capacity utilization hits 76.1%
The US steel sector reached a capacity utilization rate of 76.1% during the week ending Jan. 30, the American Iron and Steel Institute (AISI) reported.
US steel mills churned out 1.73 million tons of steel last week. The weekly output marked a 0.5% increase from the previous week but a 9.5% decline year over year.
Industrial production rises in December
US industrial production rose by 1.6% in December, the Federal Reserve reported.
Manufacturing output rose by 0.9%, while mining output rose by 1.6%.
In Q4 2020, total industrial production rose by 8.4%.
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