Features
AISI: Raw steel production holds strong
Written by Brett Linton
September 3, 2024
Domestic raw steel mill production eased last week but remains historically high, according to the latest release from the American Iron and Steel Institute (AISI). Recall that the weekly production figure two weeks ago had reached the highest rate seen in over a year and a half.
Total raw steel mill output was estimated to have been 1,760,000 short tons (st) in the week ending Aug. 31. This is down 22,000 st or 1.2% from the week prior.
Raw production last week was 2.3% higher than the year-to-date weekly average of 1,721,000 st. Production is 1.0% greater than the same week one year prior when mill output totaled 1,742,000 st.
Mill capability utilization rate last week eased to 79.2%, down from 80.2% the week prior but up from 76.6% this time last year.
Year-to-date production is up to 59,338,000 st at a capability utilization rate of 76.6%. This is 2.0% less than this time last year when 60,560,000 st were produced at a capability utilization rate of 77.2%.
Weekly production by region is shown below, with the weekly changes noted in parentheses:
- Northeast – 125,000 st (down 3,000 st)
- Great Lakes – 602,000 st (up 6,000 st)
- Midwest – 212,000 st (down 8,000 st)
- South – 760,000 st (down 14,000 st)
- West – 61,000 st (down 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. 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
The big show is here again. SMU Steel Summit begins on Monday. This year, like last year, more than 1,500 people will be joining us. And I couldn’t be more excited to have everyone here in Atlanta.
Price on trade: What a difference a year makes!
As everyone surely knows by now, the SMU Steel Summit starts on Monday in Atlanta, Ga. So, this is a great opportunity to reflect on how much has changed since the 2024 Summit. Certainly, no one could have imagined the wholesale and transformative changes to U.S. and global trade policy.
SMU Survey: Current Sentiment tumbles on tariffs, uncertainty, soft demand
SMU’s Steel Buyers’ Sentiment Indices moved in opposing directions this week. Our Current Steel Buyers’ Sentiment Index dropped to one of the lowest levels recorded in over five years, while Future Buyers’ Sentiment inched higher.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
Final Thoughts
With SMU Steel Summit starting in just a few days, I decided to go back and do a quick check on where things stand now compared to the week before Summit last year.