This Morning in Metals: Steel capacity utilization dips to 84.9%
This morning in metals news: U.S. steel capacity utilization dipped to 84.9% last week; North American Stainless said it is maintaining fuel surcharge; and, lastly, RUSAL earlier this month reported its interim H1 2021 results.
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Steel capacity utilization dips to 84.9%
U.S. steel capacity utilization dipped to 84.9% for the week ending Aug. 28, the American Iron and Steel Institute reported.
Steel output during the week reached 1.87 million net tons. That weekly total marked a decline of 0.2% from the previous week. However, output increased by 26.9% on a year-over-year basis.
For the year to date, steel production reached 62.0 million net tons. Capacity utilization during that period reached 80.5%. During the same period in 2020, the rate reached just 66.6%, with output at 51.7 million net tons.
NAS updates fuel surcharge
North American Stainless (NAS) today said it will maintain its fuel surcharge of 27% for stainless flat and long products.
“The surcharge rate is considered the maximum level for September and will be reviewed monthly,” NAS said.
RUSAL releases interim results
Meanwhile, Russian aluminum giant RUSAL earlier this month released its interim results for the first half of 2021.
“In 1H 2021, the gradual recovery of all key markets for the aluminium industry continued following the collapse caused by the COVID-19 pandemic,” the firm said. “However, despite global demand for aluminium increasing by 11%, these indicators still do not result in achieving stable levels of consumption and normalizing demand.”
RUSAL reported aluminum production remained flat compared with H1 and H2 2020, with H1 2021 output reaching 1,848 thousand metric tons of aluminum.
Adjusted EBITDA reached $1.3 billion, up 500% from $219 million in H1 2020.
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