Higher Imports Make the Commerce Department’s Task Tough

According to the AISI (American Iron and Steel Institute), US steel production rose 0.3% YoY (year-over-year) in the week ended June 9. Although US steel production has gained traction over the last couple of months, it has risen only 1.8% YoY so far this year. The US steel industry’s capacity utilization rate is also languishing at 74.8%—way below the 80% utilization rate the Commerce Department intends to achieve with the Section 232 tariffs.