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U.S. steel production jumps by 6.3 percent in August

ArcelorMittal's No. 3 Steel Producing Operations plant. U.S. steel production rose by 6.3 percent in August. 

The United States made 7.1 million tons of steel in August, a 6.3 percent year-over-year increase, according to the World Steel Association.

The Brussels, Belgium-based trade association reported that the United States made roughly 4.9 percent of the world's steel last month. The world's steelmakers produced an estimated 143.6 million tons of steel in August, which was a 6.3 percent increase compared to August 2016.

More than half the world's steel was made in China, which produced 74.6 million tons in August. That's more than 10 times what the United States made in August, and an 8.7 percent jump as compared to the same period last year.

In August, steel production increased by 3.3 percent year-over-year in Germany, 15.5 percent in France, 0.4 percent in Italy, 13.3 percent in Turkey, 4.1 percent in India and 1.2 percent in Turkey.

Last month, steel output declined by 2 percent in Japan and 2.7 percent in Spain.

Global steelmaking capacity utilization of the world's 67 steelmaking countries was 72.2 percent in August, far below the 90 percent that's generally considered healthy for the industry. That's down 0.2 percent compared to July buy up 3.3 percent compared to August 2016, according to the World Steel Association.

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Business reporter

Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.