Steel Products Prices North America
AISI: Weekly U.S. Mill Utilization Hits 83%
Written by David Schollaert
July 6, 2021
Raw steel production by U.S. mills totaled 1,842,000 net tons in the week ended July 3, up 0.4% compared with the week prior when production was 1,835,000 net tons. The average mill utilization rate was 83.0%, up 0.3% week on week, based on the available data compiled and reported by the American Iron and Steel Institute (AISI). Last week’s output represents a 41.0% increase from year-ago levels, when production was 1,306,000 net tons and utilization was just 58.3% as steel mills continued to deal with pandemic-related slowdowns.
Adjusted year-to-date production through July 3 was 46,896,000 net tons, at an average utilization rate of 79.0%. That’s up 16.0% from the same period last year when the utilization rate was 67.7% and production was 40,415,000 net tons, AISI said.
Following is production by district for the July 3 week: North East, 144,000 net tons; Great Lakes, 648,000 net tons; Midwest, 202,000 net tons; South, 772,000 net tons; and West, 76,000 net tons, for a total of 1,835,000 net tons. Production was up 7,000 net tons compared to the week prior. The decreased output in the South was offset by increased output in the remaining four districts.
Note: The raw steel production tonnage provided in this report is estimated. The figures are compiled from weekly production tonnage provided by approximately 50% of the domestic production capacity combined with the most recent monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends. The AISI production report “AIS 7,” published monthly and available by subscription, provides a more detailed summary of steel production based on data supplied by companies representing 75% of U.S. production capacity. Given the large number of changes to steelmaking capability in the current rapidly evolving market environment, AISI is undertaking a comprehensive review of its raw steel production and capability utilization statistics to ensure that they accurately reflect market conditions. Any updates to capability will be phased in over several weeks. Capability for the second quarter 2021 is approximately 29.3 million tons.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Products Prices North America
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]