Steel Products Prices North America
Weekly Raw Steel Production Eases to Four-Month Low
Written by Brett Linton
August 2, 2022
Domestic raw steel production eased to a four-month low of 1,727,000 net tons for the week ending July 30, reported the American Iron and Steel Institute. This is the lowest weekly production figure reported since early April. The mill capability utilization rate declined to a 14-month low of 78.4%, marking the fourth week below 80%.
US production is down 1.5% versus the week prior and down 7.3% compared to the same week last year. The mill capability utilization rate is down 1.2 percentage points from the prior week and 6.0 percentage points below the same period one year ago.
Adjusted year-to-date (YTD) production through July 30 now totals 52,747,000 net tons, at an average utilization rate of 80.2%. YTD production is down 2.9% from the same period last year, AISI said.
Production by region was: Northeast, 166,000 tons; Great Lakes, 562,000 tons; Midwest, 207,000 tons; South, 728,000 tons; and West, 64,000 tons.
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 US production capacity.
By Brett Linton, Brett@SteelMarketUpdate.com
Brett Linton
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