Steel Mills
AISI: Raw steel production continues to slide
Written by Ethan Bernard
October 7, 2024
Raw steel output from US mills has slipped for a fourth consecutive week, according to the latest figures released by the American Iron and Steel Institute (AISI). This marks a 20-month low for production.
Total US raw steel output was estimated at 1,606,000 short tons (st) in the week ending Oct. 5. This was off 2.4% from 1,646,000 st the previous week.
Production fell 4.6% compared to the same week last year when mill output totaled 1,684,000 st.
The mill capability utilization rate dropped to 72.3% vs. 74.1% the prior week and 73.8% a year earlier.
Year-to-date production stood at 67,818,000 st at a capability utilization rate of 76.6%. This was a 1.7% decline from the 69,009,000 st produced in the same time frame last year.
Weekly production by region is shown below, with the weekly changes noted in parentheses:
- Northeast – 103,000 st (down 13,000 st)
- Great Lakes – 564,000 st (down 12,000 st)
- Midwest – 202,000 st (up 5,000 st)
- South – 691,000 st (down 19,000 st).
- West – 46,000 st (down 1,000 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 provides a more detailed summary of domestic steel production.
Ethan Bernard
Read more from Ethan BernardLatest in Steel Mills
Algoma changing fiscal year end to Dec. 31
Canada’ Algoma Steel has announced a change in its fiscal year end from March 31 to Dec. 31.
ArcelorMittal Q3 earnings down, still recovering from Mexico strike
ArcelorMittal’s earnings saw notable declines from a year earlier as the company said market conditions remain challenging.
Algoma swings to loss in fiscal Q2 on lower shipments, soft market
Canada’s Algoma Steel swung to a steep loss in the quarter ended Sept. 30 on lower steel shipments, greater consumption of purchased coke, and weakening market conditions.
Ternium Mexico logs record volumes in Q3 as Pesqueria expansion ramps up
Luxembourg-based Ternium achieved record-high sales volumes in Mexico in the third quarter, reaching key milestones at its Pesqueria industrial center, the largest project in the Latin American steelmaker's history.
Cliffs forecasts 2025 rebound after Q3’s weakest demand since Covid
The negative impact of high interest rates on consumer behavior, particularly in the automotive and housing sectors, was the primary driver of the demand weakness seen across the third quarter, according to Cleveland-Cliffs executives.