How EAF Steel Is Leading US Growth in Steel Production
Rebounding from the pandemic, US steel production has returned to producing approximately 87 million metric tons, which comfortably aligns with rates seen over the last decade.
But with domestic construction and infrastructure not set to slow down any time soon, does the U.S. have the capacity to push its production to new heights?
Market Research Manager at Majestic Steel, Chris Billman believes so.
Billman’s Thoughts:
“As it appears that Chinese production has peaked and has started to slow down a little bit, we’ve seen other countries kind of peak on their production and the U.S. capacity as a whole is growing along with that.
In the other North American countries, Canada, Mexico, etc., I’d say the overall slice of the pie for North American production and particularly the U.S. has grown and will continue to grow over the next year or two.
The big change, however, is all this new capacity is of EAF type. So, it is a more flexible production that is more manageable and up and down markets opposed to blast furnace production that we have seen is either running full or is offline.
So, the new production, while increasing, is more manageable. It is also able to adapt more quickly to the changing, market environments, both domestically and abroad.”
