In response to a previous supply chain disruption caused by Covid-19, US steelmakers are looking for solutions to fulfill customer orders.
According to reports, Nucor Corporation said its current capacity utilization rate is around 95% to meet the trend in steel inventory demand. SSAB also said it is committed to restructuring its supply chain.
On the other hand, due to supply chain constraints caused by a shortage of semiconductor chips, automakers are struggling to maintain production in 2021. Cleveland-Cliffs believes that once automakers can resume production at full capacity, it will open up optimistic opportunities. into the steel industry.
In this regard, Nucor said that the continued growth in steel demand in the automotive industry over the next few years will allow the company to continue to expand its investments and partnerships with automotive customers.