<article><p class="lead">Steel production in Latin America rose in September to near- year earlier levels, recovering from lows brought on by Covid-19 and the related economic slump.</p><p>Crude steel production in September was 4.69mn metric tonnes (t), just off by 0.2pc from September 2019, Latin American steel association Alacero said.</p><p>While September's production was near that of a year ago, it was down by 2.5pc compared to the 4.81mn t produced in August. </p><p>The industry is operating at 60pc capacity utilization rates, far below the 80-85pc Alacero said the industry needs to be financially sound. The capacity utilization rate hit a low of 45pc in April at the height of the lockdowns and recession. </p><p>In the US, the capacity utilization rate has slowly risen to 71.4pc over the past six months since hitting a low of 51.1pc in May. Prior to the Covid-19 pandemic, the US steel industry was operating at above 80pc capacity utilization rates. </p><p class="bylines">By Rye Druzin</p></article>
