Features
AISI: Raw steel production inches back up
Written by Brett Linton
June 24, 2024
Domestic raw steel production ticked up last week following a seven-week low, according to the latest release by the American Iron and Steel Institute (AISI).
Total US steel mill output is estimated to have been 1,710,000 short tons (st) in the week ending June 22, up 6,000 st, or 0.4%, from the week prior. Raw production last week was 0.3% lower than the year-to-date weekly average of 1,715,000 st. Production is down 1.6% compared to the same week one year ago when production totaled 1,738,000 st.
The mill capability utilization rate was 77.0% last week. This rate is higher than the week prior (76.7%) but down from this time last year (77.3%).
Year-to-date production is up to 42,204,000 st at a capability utilization rate of 76.4%. That is down 2.7% from the same time frame last year, when 43,379,000 st were produced at a capability utilization rate of 77.8%.
Weekly production by region is shown below, with the weekly changes noted in parentheses:
- Northeast – 133,000 st (up 8,000 st)
- Great Lakes – 568,000 st (up 14,000 st)
- Midwest – 203,000 st (down 3,000 st)
- South – 744,000 st (down 14,000 st)
- West – 62,000 st (up 1,000 st)
Editor’s note: The raw steel production tonnage provided in this report is estimated and should be used primarily to assess production trends. The monthly AISI “AIS 7” report is available by subscription and provides a more detailed summary of domestic steel production.
Brett Linton
Read more from Brett LintonLatest in Features
Final Thoughts
Is this just a severe case of the summer doldrums? Will demand improve in the fall, as it often does? Or has uncertainty around tariffs and the economy created a more lasting impact?
Price: Which countries get a ‘zonk’ in Trump’s primetime ‘Let’s Make a (Trade) Deal’ show?
As the president’s August 1 tariff deadline approaches, the “Let’s Make a Deal” game show returns to primetime (the Monty Hall version, of course). As the administration begins rolling out trade deals, we are starting to see what’s behind door number one and who is getting a “zonk.”
SMU Community Chat: Tariff-induced panic purchases, inflation, and calculating costs
Chief executive of the Institute for Supply Management (ISM), Tom Derry highlighted how reactive buying behavior has shifted the market into a quiet demand period. Derry presented ISM data during the weekly SMU community chat.
USS, Nippon continue to press lawsuit against Cliffs, USW chief
U.S. Steel and Nippon Steel are not done settling scores with those who opposed their historic, $14.9-billion partnership.
Active rig counts ease in the US, climb in Canada
Drilling activity slowed in the US and increased in Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.