Steel Industry News

Domestic raw steel production in the United States experienced another significant decline last week due to ongoing scheduled maintenance outages. U.S. mills produced an estimated 1,606,000 tons at a 72.3% utilization rate, down from 1,646,000 tons and a 74.1% rate in the previous week. This marks the lowest utilization rate and tonnage output since January 2023. The downturn affected four out of five regions, with the Southern region experiencing the largest drop, decreasing from 710,000 tons to 691,000 tons. This widespread decrease underscores the current challenges facing the domestic steel industry.

Financial Times, New York Times and Washington Post revealed that the President had agreed to allow Nippon Steel to resubmit its filing with CFIUS. This will activate a 90-day extension to the committee’s considerations, making any decision unlikely before January – just days before the inauguration of the US’s next President.