• Skip to main content

    Prices

    Raw Steel Production Stays at 80 Percent

    Written by Brett Linton


    U.S. mills have operated at 80 percent of capacity or better for two weeks in a row. U.S. raw steel production for the week ending Oct. 20 totaled 1,875,000 net tons with the mills averaging 80.0 percent of their capability, down slightly from 80.2 percent reported the prior week, according to the American Iron and Steel Institute. The current week’s production represents a 10.0 percent jump from the same period last year when mill utilization was at 73.2 percent. Mills are currently operating near a four-year high.

    Adjusted year-to-date producton through Oct. 20 totaled 76,076,000 net tons at a capability utilization rate of 77.7 percent, up 4.9 percent from the same period last year when the capability utilization was 74.3 percent.

    Brett Linton

    Read more from Brett Linton

    Latest in Prices

    Mills seek more scrap after lower prices fail to attract tons

    Several mills that bought October scrap early last week are still asking for additional supplies, scrap market participants said. The reason: the mills' initial prices did not attract enough of the raw material, they said. A trading source based in northern Ohio said three mills have contacted his firm seeking offers for additional tons. He said the mills asked for offers even if prices were higher than their original buys last week.

    Nucor increases spot HR to $1,240/ton

    Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.