Title: Steel Shortage Continues to Impact U.S. Production - Draper, Inc. Blog
Headings: Steel Shortage Continues to Impact U.S. Production
Steel Shortage Continues to Impact U.S. Production
Content: Steel Shortage Continues to Impact U.S. Production - Draper, Inc. Blog
Steel Shortage Continues to Impact U.S. Production
by Terry Coffey | Jan 27, 2021 | Audiovisual Mounts & Structures, Draper Updates, Gym Equipment, Screen Technology, Solar Control & Window Shades |
One serious side effect of the COVID-19 pandemic has been the impact on U.S. manufacturing, both through shutdowns and through parts and material shortages caused by additional shutdowns and travel restrictions. One area that continues to be severely impacted is the availability of steel. Experts are now reporting that the shortage in domestic steel manufacturing will continue through the first quarter of 2021, and perhaps even longer. Recent reports also indicate that a decline in steel imports means there is no offset for domestic shortages. What is happening? All steel intensive manufacturers in the U.S. are facing supply shortages, and those shortages have intensified since October 2020. There are several reasons for the current steel shortage: Several steel production facilities were shut down during 2nd & 3rd quarters of 2020– about 19 million tons of capacity. Although facilities are being restarted, they are not expected to be able to meet demand until at least the end of the first quarter. Shutdowns were due to Covid-19 greatly cutting demand and creating a dearth of workers.