This morning in metals news: U.S. steel capacity utilization dropped to 83.4% last week; the Associated General Contractors of America weighed in on the passage of the infrastructure bill in the House of Representatives; and, lastly, the aluminum price has continued to slump.
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U.S. steel capacity utilization fell to 83.4% for the week ending Nov. 6, the American Iron and Steel Institute reported.
The rate marked a drop from 84.3% the previous week.
Meanwhile, steel output last week totaled 1.84 million net tons, or down 1.0% week over week. However, the weekly total remained up 14.3% year over year.
For the year to date, output reached 80.7 million net tons, or up 20.1% year over year.