U.S. Steel Capacity Utilization scored a 73.0% in October 2020 – up 1.5% month on month (m/m) – and its the seventh month increasing for the year. On a year on year (y/y) comparison, the capacity utilization was a modest -3.5%.

Mexico Steel Capacity Utilization scored a 78.4% in October – up 3.8% m/m – and its second month increasing for the year. On a y/y comparison, the capacity utilization increased 0.6%.

Canada Steel Capacity Utilization scored a 76.5% in October – up 8.2% quarter on quarter (q/q). On a y/y comparison the capacity utilization was a modest -5.8%.

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 Federal Reserve because it provides excellent insight into the health of USMCA activity. We know that when USMCA is performing well, so are steel sales, keeping our valued customers and readers informed.