Great Lakes steel production rose by 15,000 tons last week, according to the American Iron and Steel Institute.
Steel mills rose back over 80% capacity, a key threshold they operated at for most of last year, following the latest wave of industry consolidation, imposition of blanket tariffs of 25%, strong demand and generally favorable market conditions.
Locally, steel mills in the Great Lakes region, clustered mainly along the south shore of Lake Michigan in Northwest Indiana, made 594,000 tons of metal in the week that ended March 19, up from 579,000 tons the previous week.
Overall, domestic steel mills in the United States made 1.742 million tons of steel last week, up 0.3% from 1.737 million tons the previous week and down 1.5% compared to 1.768 million tons the same time a year prior.
Steel production so far in 2022 totals 19.499 million tons, a 0.3% increase over 19.449 million tons through the same period last year.
U.S. steel mills have run at a capacity utilization rate of 80.5% through March 19, up from 77.1% at the same point in 2021, according to the American Iron and Steel Institute.
Steel capacity utilization, a key metric of the industry's profitability, was 80.2% last week, up from 78% a year earlier and up from 79.9% a week prior.
Steel capacity utilization, a key metric of the industry's profitability, was 80.2% last week, up from 78% a year earlier and up from 79.9% a week prior.