Majestic's latest Core Report shows metal costs and production increases, with domestic raw steel production increasing last week, and now up four out of the last five weeks.
Other key indicators from the latest report include:
- U.S. mills produced an estimated 1,799k tons at a 79.2% utilization rate, up from 1,774k tons and a 78.1% rate previously.
- Production has set another pandemic-era high, the highest since March 24, 2020.
- Production increased in all five regions, with the largest increase (in tons) coming from the Southern region.
- Production from the Southern region climbed from 753k tons to 767k tons.
- Year-to-date production is now up 4.7% YoY.
The latest report also shows the April Architecture Billings Index climbed for the third consecutive month, coming in at 57.9, up from 55.6 in March and up sharply from 29.5 in April 2020.
Access the May 24th Core Report.