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
Final Thoughts: AMU brings the news
Usually, I write about steel in this column because, well, we’re Steel Market Update. But before I get to steel, I want to give a shoutout to my colleagues at Aluminum Market Update (AMU) – SMU’s new sister publication.
U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.
Steel market chatter this week
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
US mill buys two cargoes of Brazilian pig iron down from Sept prices
SMU spoke with a large channel in Brazil who confirmed his company sold a cargo of 50,000 metric tons (mt) to a US buyer at $383/mt FOB Brazil. That's down $12/mt from the last cargo sold in September.
Final Thoughts
If I could change something, it’d be this: Political news would get more boring. And news about steel prices and steel demand would get a little more exciting.