Features
AISI: Raw steel production ticked higher last week
Written by Brett Linton
July 22, 2024
Domestic raw steel production rose to a seven-week high last week, according to the latest release by the American Iron and Steel Institute (AISI). Raw output from US steel mills now stands at the highest recorded weekly rate since the first week of June.
Total steel mill output was estimated to have been 1,739,000 short tons (st) in the week ending July 20. This is up 4,000 st, or 0.2%, from the week prior. Raw production last week was 1.4% higher than the year-to-date weekly average of 1,716,000 st. Production is up 3.0% vs. the same week one year ago when production totaled 1,689,000 st.
The mill capability utilization rate was 78.3% last week. This rate is higher than the week prior (78.1%) and also higher than this time last year (74.3%).
Year-to-date production is up to 49,043,000 st at a capability utilization rate of 76.5%. This is 2.3% less than the same time frame last year, when 50,191,000 st were produced at a capability utilization rate of 77.3%.
Weekly production by region is shown below, with the weekly changes noted in parentheses:
- Northeast – 128,000 st (down 4,000 st)
- Great Lakes – 577,000 st (down 11,000 st)
- Midwest – 224,000 st (up 13,000 st)
- South – 748,000 st (up 11,000 st)
- West – 62,000 st (down 5,000 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
What should you keep your eye on, considering the latest geopolitical events?
OCTG industry salutes Customs for catching trade crooks
The US OCTG Manufacturers Association is commending US Customs for intercepting another Thai company's attempt to illegally transship Chinese oil pipe to the US.
Service centers: Mill orders down marginally in May
SMU’s Mill Order Index (MOI) declined for a third straight month in May, but only marginally.
AISI: Domestic steel output ticks back up
US steel mills have ramped up raw production since April, with weekly output steadily increasing in nearly every week since.
Final Thoughts
Not many people in the North American steel market had direct US involvement in another Middle East conflict on their bingo card. Prices weren't expected to shoot higher unless something unexpected happened. That unexpected something has now happened. And there is talk of oil at $100 per barrel. What does that mean for steel?