Prices
October Raw Steel Production at Four-Year High
Written by Brett Linton
December 11, 2018
Total raw steel production for the month of October was 8,330,505 net tons, the highest production level since August 2014 when 8,546,303 tons were produced. Broken down by production method, 5,724,209 tons were produced by electric arc furnaces (EAFs) and 2,606,296 tons were produced by blast furnaces. October production was 333,505 tons or 4.2 percent higher than September, and 828,212 tons or 11.0 percent higher than the same month last year, reports the American Iron and Steel Institute in Washington. AISI’s monthly estimates are different than the weekly estimates we report; the monthly estimates are based on over 75 percent of the domestic mills reporting versus only 50 percent reporting for the weekly estimates.
The chart below shows total monthly steel production (blue) broken down by electric arc furnace production (green) and blast furnace production (red).
The mill capacity utilization rate for October 2018 was 80.2 percent, up from 79.6 percent in September, and up from 73.2 percent one year ago. This is also the highest production rate since August 2014, when 8,546,303 tons were produced at a capacity utilization rate of 80.2 percent.
SMU Note: Interactive versions of the raw steel production graphics above can be seen in the Analysis section of our website here. If you need assistance logging in to or navigating the website, contact us at info@SteelMarketUpdate.com.
Brett Linton
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