U.S. Steel Capacity Utilization: The total tonnage for the week ending November 30th was 1.638 million net tons, at a capacity utilization rate of 73.8%. The year-to-date tonnage output is 81.823 million net tons, at an average capacity utilization rate of 76.7%. In 2023, the same output total was 79.956 million net tons, at an average capacity utilization of 75.2%.

Figure 1 shows production on the left-hand scale and capacity utilization as a percentage on the right-hand scale.

At Gerdau, we track U.S. steel production and capacity utilization to keep an eye on the overall health of the steel industry. We feel it is important to understand the forces that influence steel demand, including the strength of the U.S. economy and import penetration.