This morning in metals news: US steel sector capacity utilization fell to 77.6% last week; US import prices rose in March; and the WTI crude price continues to hang steady.
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US steel sector capacity utilization reaches 77.6%
US steel sector capacity utilization dipped to 77.6% for the week ending April 10, the American Iron and Steel Institute reported.
Capacity utilization fell from 77.9% the previous week.
Production during the week ending April 10 totaled 1.76 million net tons, or up 42% year over year. The total fell by 0.3% from the previous week.
US import prices rise
US import prices rose by 1.2% in March, the Bureau of Labor Statistics reported.
The increase follows jumps of 1.3% in February and 1.4% in January.
Import prices from December to March rose by 4.1%, the largest three-month rise in the index since rising 5.8% in May 2011.
Oil price remains steady
As MetalMiner’s Stuart Burns explained earlier this month, oil prices have settled into a relatively narrow band of late.
The WTI crude oil price closed Tuesday at $60.18 per barrel, according to the Energy Information Administration. The price marked an increase of $0.85 from the previous week.
Meanwhile, the price is up $37.77 per barrel from a year ago.
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