Steel Products Prices North America
May U.S. Raw Steel Production at 5.4 Million Tons
Written by Brett Linton
July 12, 2020
U.S. raw steel production in May rose 1.9 percent to 5,415,000 net tons, as reported last week by the American Iron and Steel Institute in Washington. May production was well below the 2020 average of 6,934,000 tons, and down nearly 3 million tons or 35.0 percent compared to the same month last year.
May production was 100,000 tons higher than April, but 2,911,000 tons lower than the same month last year. AISI’s monthly estimates are different than the weekly estimates SMU reports each Tuesday; the monthly estimates are based on over 75 percent of the domestic mills reporting versus only 50 percent reporting for the weekly estimates.
Broken down by production method, 4,207,000 tons (77.7 percent) were produced by electric arc furnaces (EAFs) and 1,208,000 tons (22.3 percent) were produced by blast furnaces. This is the highest EAF-produced share of total production in our 10+ year history.
The mill capacity utilization rate for May averaged 54.6 percent, down from 55.4 percent in April, and down from 80.8 percent one year ago.
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 into or navigating the website, contact us at info@SteelMarketUpdate.com.
Brett Linton
Read more from Brett LintonLatest in Steel Products Prices North America
HRC-galvanized price gap edges higher
The premium galvanized coil carries over hot-rolled coil (HRC) coil has marginally widened in recent months. As of Sept. 16, the spread between these two products reached a three-month high of $175 per short ton (st), though it is still low by historical standards.
SMU Price Ranges: HR slips, hopes for Q4 rebound still standing
SMU’s price ranges were mixed again this week as the market continues to seek a floor amid industry hopes for a Q4 rebound.
Nucor’s hot band list price holds at $875/ton
Nucor held its hot-rolled coil list price flat again this week, according to its Monday, Sept. 15 consumer spot price (CSP) notice.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.