Steel Products Prices North America
Raw Steel Production Ticks Upward: AISI
Written by Becca Moczygemba
October 3, 2022
Raw steel production by US mills saw a slight uptick. Last week’s utilization is only modestly elevated compared to the previous week’s. Utilization rates haven’t eclipsed the 80% mark in thirteen weeks, the longest run since the pandemic.
Domestic output was 1,700,000 net tons in the week ending Oct. 1, while capacity utilization was 77.1%, according to the latest data from the American Iron and Steel Institute (AISI).
US output was up 1% from the week prior and down 7.9% from last year’s production of 1,839,000 net tons. Mill capacity utilization last week was 0.7 percentage points above the prior week and 3.9 percentage points below the same period one year ago when utilization was 81%.
Adjusted year-to-date production through Oct. 1 totaled 66,118,000 net tons, at an average utilization rate of 79.6%. That’s 4.1% below the same period last year when production was 71,047,000 net tons and capability utilization was at 81%, AISI said.
Output fell in two out of the five regions last week. The Great Lakes region saw the sharpest decline in tons WoW, down 16,000 net tons, or -2.8%. The Northeast saw the highest percentage decline, down 4.2% (-6,000 net tons).
Production by region for the week ending Oct. 1 was as follows: Northeast, 138,000 tons; Great Lakes, 549,000 tons; Midwest, 196,000 tons; South, 746,000 tons; and West, 71,000 tons—for a total of 1,700,000 net tons, up 17,000 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 US production capacity.
By Becca Moczygemba, Becca@SteelMarketUpdate.com
Becca Moczygemba
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