As the domestic steel market continues to adjust from the coronavirus fallout, the market seems to be on a shaky path to stability. Of course, stability being relative to the adverse effects of the coronavirus crisis on the business and production world.
According to a new domestic steel market update from Majestic Steel, raw steel production increased slightly last week after hitting its lowest point since 2008. Domestic mills produced around 1,277k tons at a 57.0 percent utilization rate, up from 1,256k tons previously, ad production increased in multiple regions, "with the largest increase (in tons) coming from the Great Lakes region."