Steel Mills

AISI: Raw steel production stumbles

November 4, 2024

Following three consecutive weekly increases, raw steel production in the US slipped last week, according to the latest American Iron and Steel Institute (AISI) data. Weekly production is now at the third-lowest level recorded this year.

Domestic mills produced an estimated 1,629,000 short tons (st) of raw steel in the week ending Nov. 2. Output fell by 31,000 st or 1.9% from the prior week, with all regions seeing declines. Recall that in mid-October, production fell to a 20-month low of 1,606,000 st (Figure 1).

Total steel mill output last week was 4.8% lower than the year-to-date weekly average of 1,710,000 st. Production was also down 2.5% from 1,671,000 st the same week a year earlier.

The mill capability utilization rate last week was 73.3%, down from 74.7% one week prior but up from 72.7% last year.

Year-to-date production is now 74,111,000 st with an overall capability utilization rate of 76.1%. This is 2.1% less than last year when mills produced 75,672,000 st while operating at 76.4% of capabilities.

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

Northeast – 128,000 st (down 2,000 st)
Great Lakes – 592,000 st (down 9,000 st)
Midwest – 186,000 st (down 10,000 st)
South – 671,000 st (down 4,000 st).
West – 52,000 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

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.