In the latest steel market news, domestic raw steel production increased last week, ending a four-week slump of decreases. According to a new report by Majestic Steel, "U.S. mills produced an estimated 1,825k tons at a 78.4 percent utilization rate; this is up from 1,809k tons and a 77.7 percent rate previously."
The report reads: "Production increased in three of the five regions, with the largest increase (in tons) coming from the Southern region. Production from the Southern region climbed from 649k tons to 683k tons. Year-to-date production is now 5.3 percent above the same time frame from last year."