Steel capacity utilization fell to 84.8%

General Motors signed a memorandum of understanding with GE Renewable Energy to develop the rare earths supply chain; and finally, the United States Trade Representative commented on potential targeted exemptions for Section 301 tariffs on Chinese goods imposed during the Trump administration.

The USA steel capacity utilization fell to 84.8% in the week ended Oct. 2, the American Iron and Steel Institute reported.

The rate fell from 85.2% in the previous week. Meanwhile, AISI reported that steel production reached 1.87 million net tons last week. The total was down 0.4% from the previous week, but up 21.6% year-on-year.

Since the beginning of the year, production has reached 71.4 million net tons, up 20.3% year on year.