Steel Products Prices North America
AISI: Raw Steel Production Increases Again
Written by Becca Moczygemba
July 24, 2023
US raw steel production rose a second consecutive week, according to data released by the American Iron and Steel Institute (AISI) on Monday, July 24.
Steel production in the US rose to 1,741,000 net tons for the week ended July 22, up 1.5% from 1,716,000 the previous week. Domestic production is also up 1.2% year-over-year from 1,721,000 net tons in the same week of 2022.
Domestic mill capability utilization rate was 76.6% last week, up from 75.5% the previous week. Utilization was down year over year from 78.1% compared to the same period in 2022.
Adjusted year-to-date production through July 22 was 49,362,000 tons at a capability utilization rate of 75.8%. That is down 2.5% from 50,641,000 tons from the same period one year ago when the capability utilization rate stood at 80%, AISI said.
Production by region for the week ending July 22 is below. (Note: week-over-week changes are in parentheses.)
- Northeast – 137,000 tons (up 8,000 tons)
- Great Lakes – 530,000 tons (down 5,000 tons)
- Midwest – 222,000 tons (up 8,000 tons)
- South – 785,000 tons (up 17,000 tons)
- West – 67,000 tons (down 3,000 tons)
By Becca Moczygemba, becca@steelmarketupdate.com
Becca Moczygemba
Read more from Becca MoczygembaLatest 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.