Steel Products
Raw Steel Utilization Reaches 75.4%: AISI
Written by David Schollaert
March 20, 2023
Raw steel production by US mills rose 0.5% last week from the week prior, according to data released by the American Iron and Steel Institute (AISI) on Monday, March 20.
Domestic production stood at 1,686,000 net tons in the week ended March 18 vs. 1,677,000 net tons the previous week. It was off 1.4% from 1,710,000 net tons in the same week last year.
The capability utilization rate was 75.4% last week, up from 75% a week earlier and pushing past the 75% mark for the first time since the week of Oct. 8, 2022. Capability utilization was still down from 78.7% in the same week last year.
AISI said that adjusted year-to-date production through March 18 was 18,199,000 net tons at a capability utilization rate of 74%. This is down 4.7% from the 19,104,000 net tons produced during the same period last year, when the capability utilization rate stood at 79.7%.
Production by region for the week ending March 11 is below. (Note: week-over-week change is in parentheses.)
- Northeast, 149,000 tons (up 1,000 tons)
- Great Lakes, 557,000 tons (up 10,000 tons)
- Midwest, 207,000 tons (down 3,000 tons)
- South, 713,000 tons (up 9,000 tons)
- West, 60,000 tons (down 8,000 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 David Schollaert, david@steelmarketupdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Products
CRU: EC to toughen steel safeguards
The European Commission proposes cutting its steel import quota by almost half, with volumes exceeding the limit facing 50% duties. The region’s steel industry welcomes the move, while other steel-producing nations fear the consequences. CRU published an insight before this announcement, noting that more restrictive trade policy could significantly raise the cost of marginal supply […]
US and Canadian rig counts stabilize
US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.
Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.
CRU: Construction of pilot plant for green steel process starts
Voestalpine and partners have begun building an industrial-scale Hy4Smelt demonstration plant in Linz, Austria, which they hope will become key in the decarbonization of steel.