Mill Capacity Utilization Tops 70 Percent

Domestic mills continue to increase steel production as the economy rebounds from the coronavirus, with the capacity utilization rate topping 70 percent again for the first time since late-March. In the week ending Oct. 31, raw steel production totaled 1,557,000 net tons, at a mill operating rate of 70.4 percent, up from 69.7 percent the week prior. Although, production has continued to rebound week over week, the current week’s production is still 13.7 percent behind the same period last year, reported the American Iron and Steel Institute.

Adjusted year-to-date production through Oct. 31 totaled 65,806,000 net tons, at an average utilization rate of 66.7 percent. That is down 18.9 percent from the same period last year, when the utilization rate was 80.1 percent, AISI said.