Features
AISI: Raw steel production slips again
Written by Brett Linton
March 25, 2024
Domestic raw steel production slipped for the second consecutive week, and is now at a seven-week low, according to the most recent data from the American Iron and Steel Institute (AISI).
Steel output in the US totaled an estimated 1,703,000 short tons (st) in the week ended March 23, down 11,000 st or 0.6% from the previous week. Raw production is down 0.9% compared to the same week last year when production totaled 1,718,000 st.
The mill capability utilization rate was 76.7% last week, down from a rate of 77.2% the week prior and down from 76.9% one year ago.
Year-to-date production through March 23 was 20,010,000 st at a capability utilization rate of 76.0%. Annual production is down 2.9% from the same time frame last year, when 20,605,000 st were produced at a capability utilization rate of 77.7%.
Production by region is shown below, with the week-over-week changes shown in parentheses:
- Northeast – 129,000 st (down 5,000 st)
- Great Lakes – 576,000 st (down 4,000 st)
- Midwest – 179,000 st (down 2,000 st)
- South – 757,000 st (down 3,000 st)
- West – 62,000 st (up 3,000 st)
Editor’s 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 U.S. production capacity.
Brett Linton
Read more from Brett LintonLatest in Features
Join SMU for a Community Chat With Barry Zekelman Next Wednesday!
Zekelman is known for his straight talk. And his company is one of the largest steel buyers in North America. So he’s got a better eye than most on steel market developments.
Steel market chatter this week
On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.
Final Thoughts
Sure, demand isn’t as good the market had hoped it would be earlier this year. But assuming it doesn’t fall of a cliff, buyers will have to restock at some point. And that might give domestic mills enough leverage to raise prices again.
AISI: Raw steel production dips, remains near multi-month high
Following three weekly increases, domestic mill output edged lower last week, according to the American Iron and Steel Institute (AISI).
Nippon eyeing new $4B U.S. Steel mill to sweeten deal: Report
Nippon Steel could build a new domestic U.S. Steel mill with a total investment of $4 billion.