Features
AISI: US raw steel output falls to 11-week low
Written by Brett Linton
September 23, 2024
The total amount of raw steel produced by US steel mills last week declined for the second consecutive week, according to the latest release from the American Iron and Steel Institute (AISI). Weekly production now stands at its lowest level since early July.
Total domestic mill output was estimated at 1,707,000 short tons (st) in the week ending Sept. 21. This is down by 42,000 st (2.4%) from the week prior and is the largest weekly decline recorded since early 2023.
Raw production last week was 0.9% lower than the year-to-date weekly average of 1,723,000 st. But production is 0.9% more than the same week one year prior when mill output totaled 1,691,000 st. Recall that production recently reached a multi-year high in late August of 1,782,000 st.
The mill capability utilization rate last week fell to 76.9%. This is down from 78.8% the week prior but up from 74.4% this time last year. (Compare this to the late-August peak of 80.2%).
Year-to-date production is up to 64,566,000 st at a capability utilization rate of 76.8%. This is 1.6% less than the same time frame last year, when 65,634,000 st had been produced at a capability utilization rate of 76.9%.
Weekly production by region is shown below, with the weekly changes noted in parentheses:
- Northeast – 125,000 st (down 2,000 st)
- Great Lakes – 583,000 st (down 14,000 st)
- Midwest – 204,000 st (down 16,000 st)
- South – 742,000 st (down 5,000 st)
- West – 53,000 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
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