Steel Products Prices North America
August Raw Steel Production Down 0.7 Percent Over July
Written by Brett Linton
October 4, 2016
The American Iron & Steel Institute (AISI) recently reported final U.S. raw steel production estimates for the month of August 2016. The monthly estimates are different than the weekly estimates we report in our Tuesday issues; the AISI bases the monthly estimates on over 75 percent of the domestic mills reporting vs. only 50 percent for the weekly estimates.
Total raw steel production for the month of August was reported to be 7,328,534 net tons with 4,948,685 tons being produced by electric arc furnaces (EAF) and 2,379,849 tons produced by blast furnaces. August raw steel production was reported to be 53,772 tons or 0.7 percent lower than the previous month and 316,800 tons or 4.1 percent lower than the same month last year.
Compared to the first eight months of 2015, 2016 YTD production is down 1.0 percent to 58,863,922 tons. The table below shows that 6 of the 11 state-groups reported increased year over year production over the same period last year.
The capacity utilization rate for the month of August 2016 was reported to be 70.8 percent, down from 71.3 percent in July and down from 72.2 percent reported in August 2015. Note that there has been a reduction in available steel capacity from 2015 to 2016, making the capacity utilization rate higher in 2016 for the same amount of steel produced in 2015.
SMU Note: An interactive graphic of our raw steel production history can be seen in the Analysis section of our website here. If you need help logging into the website or navigating through it, please contact us at info@SteelMarketUpdate.com or 800-432-3475.
Brett Linton
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