Features
AISI: Weekly raw steel output stumbles to 19-month low
Written by Brett Linton
September 30, 2024
Domestic raw steel mill production declined last week to low levels not seen since early last year, according to the latest figures released from the American Iron and Steel Institute (AISI).
Total US steel mill raw output was estimated to have been 1,646,000 short tons (st) in the week ending Sept. 28. This is down 61,000 st, or 3.6%, from the week prior. The last time raw production was this low was in January 2023.
Raw production last week was 4.3% lower than the year-to-date weekly average of 1,721,000 st. Production is down by 2.7% compared to the same week one year earlier when mill output totaled 1,691,000 st.
The mill capability utilization rate last week declined to 74.1%. This is off from 76.9% one week prior and down from 74.4% this time last year.
Year-to-date production stood at 66,212,000 st at a capability utilization rate of 76.7%. This is 1.7% less than the same time frame last year, when 67,325,000 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 – 116,000 st (down 9,000 st)
- Great Lakes – 576,000 st (down 7,000 st)
- Midwest – 197,000 st (down 7,000 st)
- South – 710,000 st (down 32,000 st).
- West – 47,000 st (down 6,000 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
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply featuring Timna Tanners, managing director of equity research for Wolfe Research, is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If […]
SMU Community Chat: June 25 With AGC Chief Economist Ken Simonson
We’ll have a lot to talk about because construction is at the intersection of so many of today’s hot-button issues. The main question: Will construction thrive or dive in the rest of ’25? (Nothing wrong with a rhyme, even in serious times.)
Former Nucor CEO David ‘Dave’ Aycock passes at age 94
Steel industry veteran David ‘Dave’ Aycock died on Saturday at the age of 94.
Apparent steel supply edged lower in April, remains strong
The amount of finished steel that entered the US market in April declined 3% from March but remained at elevated levels, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data.
Final Thoughts
Even before the news about Mexico, I didn’t want to overstate the magnitude of the change in momentum. As far as we could tell, there hadn’t been a frenzy of new ordering following President Trump’s announcement of 50% Section 232 tariffs. But higher tariffs had unquestionably raised prices for imports, which typically provide the floor for domestic pricing. We’d heard, for example, that prices below $800 per short ton for hot-rolled (HR) coil were gone from the domestic market – even for larger buyers.