Features
AISI: Raw steel production slips to 5-month low
Written by Brett Linton
July 8, 2024
Domestic raw steel production tumbled last week to the lowest rate seen in five months, according to the latest release by the American Iron and Steel Institute (AISI). Throughout this year, the only time weekly production rates have been this low were the last three weeks of January.
Total US steel mill output is estimated to have been 1,695,000 short tons (st) in the week ending July 6. This is down 26,000 st, or 1.5%, from the week prior. Raw production last week was 1.1% lower than the year-to-date weekly average of 1,714,000 st. Production is down 0.1% compared to the same week one year ago when production totaled 1,696,000 st.
The mill capability utilization rate was 76.3% last week. This rate is lower than the week prior (77.5%) but up from this time last year (74.7%).
Year-to-date production is up to 45,569,000 st at a capability utilization rate of 76.4%. That is down 2.7% from the same time frame last year, when 46,813,000 st were produced at a capability utilization rate of 77.7%.
Weekly production by region is shown below, with the weekly changes noted in parentheses:
- Northeast – 127,000 st (down 5,000 st)
- Great Lakes – 575,000 st (down 11,000 st)
- Midwest – 200,000 st (up 1,000 st)
- South – 730,000 st (down 10,000 st)
- West – 63,000 st (down 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
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.
US and Canada expect positive outcomes from tariff negotiations
Canadian Prime Minister Mark Carney and US President Donald Trump told reporters at the White House on Tuesday that they’ll be formulating a trade deal that works for both nations.
Final Thoughts: Survey says edition
SMU’s latest survey results indicate that steel market participants think sheet prices are at or near a bottom. But most also think there is limited upside once they inflect higher.
SMU Scrap Survey: Current and Future Sentiment tick down
SMU’s Current Sentiment Index for scrap decreased this month, a move mirrored by our Future Sentiment Index, according to the latest data from our ferrous scrap survey.
Leibowitz: When the shutdown should end
There is no doubt that the current government shutdown reflects the vast divisions between the extremes of American politics, society, and even geography. Almost all Americans agree that government is necessary, but voters disagree...