This morning in metals news: the US steel capacity utilization rate reached 81.5% last week; meanwhile, miner Glencore announced a new liquefied natural gas supply agreement; and, lastly, G7 trade ministers issued a joint communiqué covering market and trade distortions by state enterprises.
Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner Events page.
US steel capacity utilization rate rises to 81.5%
US steel capacity utilization for the week ending May 29 reached 81.5%, the American Iron and Steel Institute (AISI) reported.
Output during the week reached 1,836,000 net tons, AISI reported, up 50.1% year over year. In the previous week, the capacity utilization rate settled at 79.0%.
Meanwhile, the output total marked an increase of 2.4% from the previous week.
For the year to date, production reached 35,913,000 net tons. The capacity utilization rate for the period checked in at 78.1%. Year-to-date output is up 9.5% from the same period in 2020, when the capacity utilization rate reached 69.9%.