Features

AISI: Raw steel production recovers to five-week high

October 28, 2024

Domestic raw steel production recovered for the third consecutive week last week, according to the latest figures released from the American Iron and Steel Institute (AISI). While up, output remains near one of the lowest rates recorded across 2024.

The total amount of raw steel produced by US mills was estimated to have been 1,660,000 short tons (st) in the week ending Oct. 26. Production increased 29,000 st, or 1.8%, from the prior week. Recall that earlier this month, production had dipped to a 20-month low of 1,606,000 st (Figure 1).

Raw production last week was 3.1% lower than the year-to-date weekly average of 1,712,000 st. Production is down by 0.2% compared to the same week one year prior when mill output totaled 1,664,000 st.

The mill capability utilization rate last week was 74.7%. This is up from 73.4% one week prior and up from 72.4% this time last year.

Year-to-date production has reached 72,729,000 st at a capability utilization rate of 76.4%. This is 1.7% less than the same period of last year when 74,002,000 st had been produced at a capability utilization rate of 76.4%.

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

Northeast – 130,000 st (up 15,000 st)
Great Lakes – 601,000 st (up 20,000 st)
Midwest – 196,000 st (down 2,000 st)
South – 675,000 st (down 11,000 st)
West – 58,000 st (up 7,000 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

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.