• Skip to main content

    Analysis

    July 8, 2024

    AISI: Raw steel production slips to 5-month low

    Written by Brett Linton

    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. 

    Brett Linton

    Brett Linton is a digital operations 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.

    Read more from Brett Linton

    Latest in Analysis

    SMU Survey: Current Buyers’ Sentiment rises slightly as Future Sentiment dips

    SMU’s Current Steel Buyers’ Sentiment Index ticked up slightly this week, while Future Sentiment fell, according to our latest market survey. Every two weeks, SMU polls thousands of steel-industry executives, asking them to rate their companies’ chances of success today and also three to six months down the road. We use their responses to calculate our proprietary Current and Future Steel Buyers’ Sentiment Indices, measures tracked since 2008.

    galvalume steel coil

    SMU Survey: Mill willingness to negotiate price at lowest levels since 2021

    The majority of steel buyers responding to our latest market survey reported that mills continue to hold a firm grip on prices. The share of buyers reporting that mills were negotiable fell this week to the lowest rate seen in over five years. Every two weeks, SMU surveys service center and manufacturer buyers asking if mills are negotiable on new spot sheet and plate orders. In this week’s survey, just 3% of respondents said mills were willing to talk price to secure an order (Figure 1). This is down 11 percentage points from our mid-October survey.