Steel Products Prices North America
Weekly Raw Steel Production Rate Rises to 10+ Year High
Written by Tim Triplett
March 5, 2019
U.S. steel mills reached an average capability utilization rate of 82.8 percent in the week ending March 2. Domestic raw steel production for the week totaled 1,927,000 net tons, up 1.0 percent from the prior week and 5.9 percent from the same period last year.
This is the highest capacity utilization rate seen in over 10 years, since the week ending Sept. 27, 2008, when 1,986,000 tons were produced at a rate of 83.2 percent. This is the highest weekly production seen in 4.5 years, since the week ending Aug. 23, 2014, when 1,932,000 tons were produced at a capacity utilization rate of 80.3 percent.
The U.S. steel industry has produced 16,439,000 tons of steel so far in 2019, a 6.9 percent increase from the same period last year. Mill utilization has averaged 81.1 percent this year, up substantially from the 75.7 percent in 2018, reported the American Iron and Steel Institute.
Following is production by district for the March 2 week: North East: 212,000 net tons; Great Lakes, 716,000 net tons; Midwest, 208,000 net tons; South, 717,000 net tons; and West, 74,000 net tons, for a total of 1,927,000 tons. Production for the week was up in all regions but 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
CRU: US rebar and wire rod prices rise alongside S232 increase
CRU Senior Steel Analyst Alexandra Anderson discusses current market and pricing dynamics for long steel products in the US.
SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.
Nucor maintains plate prices, opens August order book
Nucor aims to keep plate prices flat again with the opening of its August order book.
Nucor CSP remains level at $900/ton
Nucor maintained its weekly list price for hot-rolled (HR) coil this week, following two consecutive increases.
Cliffs raises prices, seeks $950/ton for July spot HR
Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $950 per short ton (st) with the opening of its July spot order book. The Cleveland-based steelmaker said the price hike was effective immediately in a letter to customers dated Monday.