U.S. Steel Industry Planning $10 Billion in Project Spending
SUGAR LAND--March 28, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--Global overcapacity in the steel industry remains a major influencer for capital spending in the steel manufacturing sector; however, in the U.S., demand has improved, and steel manufacturers are increasing finished product prices and are ramping up capacity to meet regional demand. Steel mill capacity utilization is up slightly in 2017. This is mainly due to improvement in demand for non-residential construction and an uptick in oil & gas development, including drilling rig activity.
Within this article: Details on the causes of the steel manufacturing sector's ramp-up in capacity and finished product prices and future plans.
