Steel Products Prices North America
Steel Production Dips Along with Winter Temperatures
Written by Tim Triplett
February 5, 2019
Harsh winter weather likely contributed to a slight slowdown in the rate of raw steel production last week after two weeks above 1.9 million tons. U.S. steelmakers produced 1,889,000 net tons of steel in the week ending Feb. 2, operating at a capability utilization rate of 81.2 percent. Production was down 1.7 percent from the prior week, but up 8.3 percent from the same week the prior year, reported the American Iron and Steel Institute.
One month into the year, the industry was averaging a mill utilization rate of 80.5 percent. Total year-to-date production of 8,954,000 tons was up 10.3 percent from the same period in 2018, when the utilization rate was 73.8 percent.
Following is production by district for the Feb. 2 week: North East: 225,000 net tons; Great Lakes, 667,000 net tons; Midwest, 209,000 net tons; South, 714,000 net tons; and West, 74,000 net tons, for a total of 1,889,000 tons. Production for the week was up in the North East, Midwest and South, but down in the Great Lakes and West. Severe winter weather conditions likely contributed to a nearly 8 percent dip in Great Lakes production, offset somewhat by a 3 percent increase in the South.
The raw steel production tonnage provided in this report is estimated. The figures are compiled from weekly production tonnage 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 AISI monthly production report provides a more detailed summary of steel production based on data supplied by companies representing 75 percent of U.S. production capacity.
Note: Capability for first-quarter 2019 is approximately 30.5 million tons compared to 30.0 million tons for the same period last year and 30.8 million tons for fourth-quarter 2018.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
SMU Price Ranges: Sheet Slips Again on Strike, But Is a Bottom in Sight?
Sheet prices slipped again this week on news of the United Auto Workers (UAW) strike and continued caution among some consumers.
HRC vs. Galv Price Spread Widened This Summer
The spread between hot-rolled coil (HRC) and galvanized sheet base prices widened throughout the summer as hot rolled prices declined faster than those of galvanized.
SMU Price Ranges: Sheet Slips Again on UAW Strike Fears
Sheet prices fell across the board ahead of what many market participants predict will be a strike by the United Auto Workers (UAW) later this week.
Nucor Lowers Plate Prices by $40/t
Nucor Corp. will lower plate prices by $40 per ton ($2 per cwt) with the opening of its October order book.
SMU Price Ranges: Sheet Prices Move Lower, No Bottom Yet
Sheet prices have fallen this week, after a small pause last week when prices saw mixed results. Tags have now been largely trending lower since July.