US Steel Production Falls on Asia Europe Slowdown

Latest research by Barclays PLC (NYSE:BCS), deriving from global steel production data for the month of July, points to a near-term positive outlook for U.S. steelmakers, under-pinned by favorable factors continuing to work in their favor. Global steel production has declined across the globe in July, primarily due to lower production in Europe and Asia.

However, in the US, steel prices have maintained an upward trajectory from about $590/t in July, to currently about $660/t, and this is significant given that weekly US utilization rates for steel in the month of August is...