Steel Products Prices North America
AISI: Weekly Raw Steel Production, Utilization Up Slightly
Written by David Schollaert
November 14, 2022
Raw steel production by US mills edged up last week, ending a three-week slide. The marginal week-on-week (WoW) increase did little for production, keeping utilization and output at their lowest levels in nearly two years, according to the latest data from the American Iron and Steel Institute (AISI).
Capability utilization has now been below the 80% mark for 18 straight weeks.
Domestic steel output was 1,645,000 net tons during the week ending Nov. 12, up just 0.3% from the week prior but down 10% from 1,828,000 tons during the same week last year.
Capability utilization was 73.7% last week — up 0.2 percentage points from 73.5% the previous week and down 9.1 percentage points from the same period one year ago when the rate was 82.3%.
Adjusted year-to-date production through Nov. 12 now stands at 77,992,000 tons, with an overall utilization rate of 78.8%. Production was 4.9% below the same period last year when it was 82,049,000 tons and capability utilization was at 81.3%, AISI said.
Output rose in three out of the five regions last week: The Great Lakes (+7,000 tons, or +1.3%), Midwest (+5,000 tons, or +2.7%), and the West (+2,000 tons, or +2.9%). Production fell in the South (-7,000 tons, or -1%) and the Northeast (-2,000 tons, or -1.4%).
Production by region for the week ending Nov. 12 was as follows: Northeast, 143,000 tons; Great Lakes, 536,000 tons; Midwest, 187,000 tons; South, 709,000 tons; and West, 70,000 tons — for a total of 1,645,000 tons, up 5,000 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 David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Products Prices North America
CRU: Falling steel prices limit demand for imports into US
The recent decline in US hot-rolled (HR) coil and longs prices has further restricted demand for imported material. Despite the decline in US sheet prices, CR coil and HDG imports remain attractive. While demand for imports of longs products has been limited, buyers have increased imports of wire products to avoid wire rods’ higher tariffs. […]
Galvanized prices maintain big premium over HR
Prices for hot-rolled (HR) coil in recent weeks have been declining faster than those for galvanized sheet, resulting in a growing price spread between the two steel products.
SMU price ranges: Sheet down broadly, HR $35/t lower
Sheet prices fell across the board this week – largely in response to Nucor’s $65-per-short-ton price cut for hot-rolled (HR) coil on Monday morning. SMU’s HR coil price is $780/st on average, a $35/st decrease week over week (w/w). Our average cold-rolled coil price is $1,090/st (down $30/st w/w). Our galvanized base price is $1,100/st […]
Nucor surprises with $65/ton price drop for HRC
Nucor started off May with a bang, dropping its weekly base spot price for hot-rolled (HR) coil by $65 per short ton (st) this week.
Nucor drops weekly HR coil price by $10/ton
Nucor lowered its weekly base spot price for hot-rolled (HR) coil by $10 per short ton (st) this week.