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AISI: Raw steel production slips to 5-month low

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

Brett Linton is a senior analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.