For the current week ending June 19, 2021, steel production represents a 44.6% increase from the same period in 2020.
American Iron and Steel Institute
- Prices are likely to move lower as planned capacity, and therefore the steel capacity utilization rate, continue higher through the remainder of 2021, according to KeyBanc’s Phil Gibbs.
- Gibbs also stated that the steel capacity utilization rate is approaching pre-pandemic levels.
- According to the American Iron and Steel Institute Institute, the steel capacity utilization rate was 82.9% the weeking ending June 19, 2021. The rate was a mere 56.8% during the same week last year.
- Last year, the utilization rate suffered. According to Department of Commerce data, overall capacity utilization in 2020 averaged 68.9%, down from the 2019 annual average of 79.3%.