Steel Products Prices North America
Steel Production, Mill Utilization Up from Last Year
Written by Tim Triplett
August 15, 2017
Domestic raw steel production totaled 1,780,000 net tons in the week ending Aug. 12, up 1.0 percent from the previous week and a 7.6 percent increase from the same period in 2016. The mill capability utilization rate was 76.4 percent for the week, up from 70.8 percent the same time last year, reports the American Iron and Steel Institute in Washington.
The last time the capability utilization rate was this high was the week ending Jan. 10, 2015, when 1,899,000 tons were produced at a rate of 79.0 percent. The last time raw production was this high was the week ending March 11, 2017, when 1,791,000 tons were produced at a rate of 75.6 percent.
Adjusted year-to-date production through Aug. 12 totaled 55,650,000 net tons, up 2.9 percent from last year. The capability utilization rate for the year averaged 74.6 percent, up from 72.2 percent in 2016.
Following is the Aug. 12 week’s production by district: North East 211,000 net tons; Great Lakes, 678,000 net tons; Midwest, 166,000 net tons; South, 650,000 net tons; and West, 75,000 net tons, for a total of 1,780,000.
The raw steel production tonnage in this report is estimated. The figures are compiled from weekly production tonnage provided from 50 percent of the domestic producers combined with monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends. The monthly AISI production report provides a more detailed summary of steel production based on data supplied by companies representing 75 percent of U.S. production capacity.
Mill capability for third-quarter 2017 is approximately 30.6 million tons, compared to 30.7 million tons for the same period last year and 30.3 million tons for the second quarter.
Below is a graph showing the history of weekly raw steel production. You will need to view the graph on our website to use its interactive features, you can do so by clicking here. If you need assistance logging into or navigating the website, please contact our office at 800-432-3475 or info@SteelMarketUpdate.com.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]