Steel Markets

AISI: Raw steel output jumps, capability surpasses 80%

August 26, 2024

Domestic steel mill production increased last week to one of the highest rates recorded in over a year, according to the latest data from the American Iron and Steel Institute (AISI). Having risen for three weeks in a row, weekly production was at its highest since February 2023.

For the week ending Aug. 24, AISI estimated total raw steel mill output to have been 1,782,000 short tons (st). In the the largest weekly gain in the past six weeks, production increased by 28,000 st, or 1.6%, from the week prior.

Raw production last week was 3.6% higher than the year-to-date weekly average of 1,720,000 st, and 2.3% higher than a year ago when mill output totaled 1,742,000 st.

US mills operated at 80.2% of capabilities last week, AISI said. This rate was higher than in the week prior (79.0%) and at this time last year (76.6%).

Year-to-date production is up to 57,692,000 st with a capability utilization rate of 76.7%. This is 1.9% less than the same time frame last year, when mills operated at 77.2% of capabilities, producing 58,818,000 st.

Weekly production by region is shown below, with the weekly changes noted in parentheses:

Northeast – 128,000 st (up 4,000 st)
Great Lakes – 596,000 st (up 8,000 st)
Midwest – 220,000 st (up 2,000 st)
South – 774,000 st (up 11,000 st)
West – 64,000 st (up 3,000 st)

Editor’s note: The raw steel production tonnage provided in this report is estimated and should be used primarily to assess production trends. AISI’s monthly “AIS 7” report is available by subscription and can provide 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.