USMCA Capacity Utilization
U.S. Capacity Utilization was 74.6% in March 2021, increasing 2.6% month on month (m/m). On a year on year (y/y) comparison, capacity utilization was a modest +1.4%.
Mexico Capacity Utilization was 81.8% in March, up 6.5% m/m. On a y/y comparison, capacity utilization was up 3.8%.
Canada Capacity Utilization was 81.7% for Q1 2021 (January – March), up 3.2% quarter on quarter (q/q). When comparing Q1 2021 to Q1 2020, capacity utilization was up significantly at +16.2%.
Figure 1 charts capacity utilization from 2018 to present. Capacity utilization and production picked up at the beginning of the year, as is typical for January and February.
At Gerdau, we regularly monitor the USMCA capacity utilization data issued by the Trading Economics because it provides excellent insight into the health of USMCA steel production activity.