Prices
Raw Steel Production Dips 0.6%: AISI
March 6, 2023
Raw steel production by US mills slipped 0.6% last week from the week prior, according to data released by the American Iron and Steel Institute (AISI) on Monday, March 6.
Domestic production stood at 1,664,000 net tons in the week ended March 4 vs. 1,674,000 net tons the previous week. It was off 3.8% from 1,729,000 net tons in the same week last year.
The capability utilization rate was 74.4% last week, dropping from 74.9% a week earlier, and down from 79.6% in the same week last year.
AISI said that adjusted year-to-date production through March 4 was 14,836,000 net tons at a capability utilization rate of 73.7%. This is down 5.4% from the 15,683,000 net tons produced during the same period last year, when the capability utilization rate stood at 80.2%.
Production by region for the week ending March 4 is below. (Note: week-over-week change is in parentheses.)
- Northeast, 143,000 tons (down 3,000 tons)
- Great Lakes, 533,000 tons (up 13,000 tons)
- Midwest, 206,000 tons (down 3,000 tons)
- South, 717,000 tons (down 15,000 tons)
- West, 65,000 tons (down 2,000 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 Ethan Bernard, ethan@steelmarketupdate.com
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