Investor Presentaiton
DOMESTIC STEEL UTILIZATION AT YTD HIGHS
As of May 24, 2023, while down
from the recent peak, U.S. hot
rolled steel prices have risen
roughly two thirds above their
recent lows, largely on the back
of encouraging economic
activity.
U.S. steel capacity utilization
recently troughed at 71%, rising
to 78% over the past few of
months, which is encouraging.
(1) In $/short ton (monthly average).
(2) In % (monthly average).
Source: Bloomberg, as of 5/24/23.
U.S. Steel Prices (1)
U.S. Steel Capacity Utilization (2)
RAMACO
RESOURCES
$2,000
90%
$1,750
85%
80%
$1,500
75%
$1,250
70%
$1,000
65%
$750
60%
55%
$500
50%
$250
45%
$0
40%
May-19 Jan-20
Sep-20 May-21
Jan-22
Sep-22 May-23
May-19 Jan-20
Sep-20 May-21 Jan-22 Sep-22 May-23
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