• Skip to main content

    Prices

    March 1, 2021

    Mill Utilization Rate Posts Repeated Gains

    Written by David Schollaert

    Weekly raw steel production by U.S. mills totaled 1,749,000 tons in the week ending Feb. 27, up 0.2% from the week prior when production was 1,745,000 tons. Although marginal, raw steel production was up for a third consecutive week. The mill utilization rate was 77.2%, up from 77.0% one week ago, yet down 7.0% from the same period last year when production was 1,880,000 net tons.

    Adjusted year-to-date production through Feb. 27 was 14,357,000 net tons, at an average utilization rate of 76.5%. That’s down 8.4% from the same period last year then the utilization rate was 81.9% and production was 15,674,000 net tons, AISI said.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

    Latest in Prices

    Mills seek more scrap after lower prices fail to attract tons

    Several mills that bought October scrap early last week are still asking for additional supplies, scrap market participants said. The reason: the mills' initial prices did not attract enough of the raw material, they said. A trading source based in northern Ohio said three mills have contacted his firm seeking offers for additional tons. He said the mills asked for offers even if prices were higher than their original buys last week.

    Nucor increases spot HR to $1,240/ton

    Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.