This morning in metals news: U.S. steel capacity utilization dropped slightly last week; the number of drilled but uncompleted oil wells in the U.S. declined in July; and, lastly, the construction sector shed 3,000 jobs in August.
The U.S. steel capacity utilization rate for the week ending Sept. 4 fell to 84.5%, the American Iron and Steel Institute (AISI) reported this week.
The rate marked a decline from 84.9% the previous week.
Meanwhile, steel output last week totaled 1,866,000 net tons, AISI reported. The total marked a 0.4% decline from the previous week but a 23.5% year-over-year rise.