Steel Products Prices North America
Weekly Raw Steel Production Rises to Four-Month High
Written by Brett Linton
May 23, 2022
Domestic mill raw steel production increased again last week, with the utilization rate climbing to an 18-week high and production rising to a 16-week high. US output totaled 1,789,000 net tons in the week ending May 21, with a capacity utilization rate of 82.0%, according to the American Iron and Steel Institute (AISI).
Production rose 0.2% week over week, but is down 2.5% compared to this time last year when production was 1,834,000 net tons. Mill capacity utilization last week rose 0.2 percentage points from the prior week, and is 1.0 percentage points above the same period one year ago when utilization was 81.0%.
Adjusted year-to-date production through May 14 totaled 35,199,000 net tons, at an average utilization rate of 80.3%. That’s down 1.8% from the same period last year when production was 35,843,000 net tons, though the utilization rate was lower at 78.7%.
Below is the production by region for the week ending May 21: Northeast, 171,000 tons; Great Lakes, 567,000 tons; Midwest, 208,000 tons; South, 772,000 tons; and West, 71,000 tons – for a total of 1,789,000 net tons, up 4,000 net tons from the prior week.
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.
By Brett Linton, Brett@SteelMarketUpdate.com
Brett Linton
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