How the steel industry is making a comeback

Industrial steel production in Canada has seen a record high, according to new data from Statistics Canada.

The company, which has been in decline since the 1970s, saw a 3.7 per cent increase in total production last year, up from 2.9 per cent in 2015.

“I think the trend we see in industrial steel is one of continuing recovery, and that’s good news for the industry,” said John DeBose, CEO of the Steel Association of Canada.

“It will help us maintain our capacity to deliver on our promises to Canadians.”

Industrial steel production, which includes cement and concrete, has increased every year since 2000, when it was at its lowest level.

The trend continued in 2015, when industrial production climbed to 6.2 per cent.

Industrial output grew by 1.2 million tonnes last year from 7.6 million tonnes in 2014.