In an encouraging sign, the capacity utilization rate has been higher in 7 of the last 10 weeks. During this time, US steel production averaged 1,738,700 tons per week at an average capacity utilization rate of 73.3%.

Over the first nine weeks of 2017, US steel production averaged 1,733,000 tons per week at an average capacity utilization rate of 72.1%. The most recent four week moving average production was 1,759,000 tons.

The latest issue of China Metals Weekly for the week ending March 1^st showed that long product prices continued to rise sharply. Rebar (20mm), advanced 3.0% week on week to reach $491 per net ton.

Over the first eight weeks of 2017, US steel production averaged 1,730,000 tons per week at an average capacity utilization rate of 72.9%. This is a 71,000 ton per week increase in production and a 2.0% increase in capacity utilization over the same period in 2016.

For the year ending December 2016, US mill shipments of long products fell 0.5% to 1.467 million tons. US domestic composition of long products fell 0.2% over the same time frame. Import share of long products was 22.6% for the year.