Market Update | December 8th 2021

Domestic production slipped for the second consecutive week as U.S. steelmakers produced 1.810 million tons at an 81.9% utilization rate. This was the lowest weekly output in tons since mid-May. Additionally, December import licenses are down compared to November. Inventories are being impacted by weak production and high demand as seen in dealerships across the country. Current light vehicle inventory equates to 25 days of supply which is well below “normal” levels.