Steel production in Ohio falls in second quarter
Steel production in Ohio dropped at the start of this year, the Ohio Steel Council said.
Production in the first three months of this year was 3.4 million tons, a drop of 11 percent from the first quarter of 2006.
“Results for the first quarter of 2007 reflected a somewhat weaker overall economy and higher customer inventories compared to what we were experiencing at the start of 2006,” said Alan McCoy, vice president of government and public relations for AK Steel Corp.
He added that producers faced other challenges as energy and raw material prices were at all-time highs.
Average employment in the first quarter fell 7 percent to 13,373, while capital investment spending totaled $52.8 million, a drop of 22 percent.
The Ohio Steel Data Report, compiled by Youngstown State University’s Center for Urban Studies, covers statistics from Ohio mills owned by the council’s steel-producing members. Thomas Steel Strip Corp. of Warren, V&M Star of Youngstown and WCI Steel of Warren are members.