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
Price: Reciprocal tariff changes and potential new tariffs for Brazil, Canada, others
Trade issues do not seem poised to leave the headlines anytime soon. And as recent developments show, the administration’s tariff policy remains ever-changing.
SMU Scrap Survey: Sentiment Indices rise
Both current and future scrap sentiment jumped this month, though survey participants reported responses before key trade news was announced.
HVAC equipment shipments bounce back in May
Heating and cooling equipment shipments grew from April to May, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
US drilling activity falls further, climbs in Canada
US oil and gas drilling activity continued to decline for the 11th consecutive week, while Canadian counts climbed for the sixth week in a row, according to the latest data from Baker Hughes.
SMU Survey: Sentiment splits, buyers have better view of future than the present
SMU’s Steel Buyers’ Sentiment Indices moved in opposite directions this week. After rebounding from a near five-year low in late June, Current Sentiment slipped again. At the same time, Future Sentiment climbed to a four-month high. Both indices continue to show optimism among buyers about their company’s chances for success, but suggest there is less confidence in that optimism than earlier in the year.