US Steel Production Growth Outlook: Key Takeaways
Increasing US steel production and the domestic steel industry’s rising capacity utilization rates were among the objectives that the Commerce Department wanted to achieve with its Section 232 tariffs. To be sure, the US steel industry’s capacity utilization rate jumped above 80% in the week ending September 8. However, after strong gains in steel production, we’ve seen the growth rates moderate slightly. Let’s discuss this in perspective.