World steel capacity utilization falls to 73%

Worldsteel published the global steel production figures for August today. They confirm the gentle slowing of steel production with output declining marginally by 1% July to August.

If production stays flat for the remainder of the year, it could still be a record production year. The thing to watch however, (and only if you're careful with the number because the data can be very unreliable), is global capacity utilization running about 73% down from 74% the month before.

The global number is only a shade higher than the current run rate of the US industry which this week was about 70%. Are we settling into some type of global equilibrium?