Steel Products Prices North America

No Sign of Slowing in Weekly Steel Production
Written by Tim Triplett
October 27, 2020
Weekly raw steel production by U.S. mills rose again by 0.5 percent to 1,542,000 net tons in the week ending Oct. 24. The mill operating rate hit 69.7 percent, up from 69.4 percent the week prior. Despite the steady increases over the past 20 weeks as the economy recovers from COVID, domestic steel production was still 14.6 percent below the 1,805,000 tons produced in the same week last year, reported the American Iron and Steel Institute.
Adjusted year-to-date production through Oct. 24 totaled 64,023,000 net tons, at an average utilization rate of 66.34 percent. That is down 19.3 percent from the same period last year, when the utilization rate was 80.1 percent, AISI said.
Following is production by district for the Oct. 24 week: North East: 135,000 net tons; Great Lakes, 563,000 net tons; Midwest, 171,000 net tons; South, 600,000 net tons; and West, 73,000 net tons, for a total of 1,542,000 tons and a net increase of 17,000 tons. Production was flat to up slightly in all regions except the North East. .
Note: 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. Capability for fourth-quarter 2020 is approximately 29.1 million tons, compared to 30.4 million tons for the same period last year and 29.4 million tons for the second quarter of 2020.

Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America

Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.

SMU Price Ranges: HR crawls back to $800/ton
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.

SMU successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).

Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.

SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.