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Weekly Steel Production Still Climbing

Written by David Schollaert

Weekly raw steel production by U.S. mills continues to climb, a trend that started back in May. In the week ending Nov. 7, raw steel production totaled 1,573,000 net tons. The capacity utilization rate rose to 71.1 percent, up from 70.0 percent the week prior. Despite the steady rise in output, the current week’s production represents a 13.7 percent decrease from the same period last year, reported the American Iron and Steel Institute.

Adjusted year-to-date production through Nov. 7 totaled 67,379,000 net tons, at an average utilization rate of 66.8 percent. That is down 18.8 percent from the same period last year, when the utilization rate was 80.0 percent, AISI said.

Following is production by district for the Nov. 7 week: North East: 155,000 net tons; Great Lakes, 544,000 net tons; Midwest, 162,000 net tons; South, 639,000 net tons; and West, 73,000 net tons for a total of 1,573,000 and a net increase of 16,000 tons. The North East, Great Lakes, and Midwest regions all reported decreases in production week/week. Despite a slight increase in the West, the South region carried the week/week growth.

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 third quarter of 2020.

David Schollaert

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