Features
AISI: Raw steel production recovered last week
Written by Brett Linton
April 1, 2024
Domestic raw steel production rebounded from the seven-week low seen last week. It now stands at a three-week high, according to the latest release from the American Iron and Steel Institute (AISI)
Total steel output in the US was estimated to have been 1,722,000 short tons (st) in the week ending March 30, up 1.1% from the week prior. Raw production is up 0.2% compared to the same week last year, when production totaled 1,718,000 st.
The mill capability utilization rate was 77.5% last week, up from both the week prior (76.7%) and one year ago (76.9%).
Year-to-date production through the end of March was 21,752,000 st at a capability utilization rate of 76.2%. Annual production is down 2.6% from the same time frame last year, when 22,323,000 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 – 136,000 st (up 7,000 st)
- Great Lakes – 584,000 st (up 8,000 st)
- Midwest – 190,000 st (up 11,000 st)
- South – 752,000 st (down 5,000 st)
- West – 60,000 st (down 2,000 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.