U.S. raw steel production rose 0.7 percent to 5,453,000 net tons in June, as reported last week by the American Iron and Steel Institute in Washington. June production was well below the 2020 average of 6,687,000 tons, and down 31.7 percent compared to the same month last year.
June production was 38,000 tons higher than May, but 2,532,000 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, 4,070,000 tons (74.6 percent) were produced by electric arc furnaces (EAFs) and 1,383,000 tons (25.4 percent) were produced by blast furnaces. June recorded the highest EAF-produced share of total production in SMU’s 10-year history.
The mill capacity utilization rate for June averaged 56.8 percent, up from 54.6 percent in May, but down from 80.1 percent one year ago. The average capacity utilization rate for the year is now 67.8 percent, down from 81.2 percent in the same six-month period of 2019.
SMU Note: Interactive versions of these raw steel production graphics can be seen in the Analysis section of our website here. We have detailed regional data available as well, such as the example below showing monthly produciton in the Indiana region. If you need assistance logging into or navigating the website, contact us at info@SteelMarketUpdate.com.
Brett LintonRead more from Brett Linton
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