Market Segment
AISI: Raw steel production falls to 5-week low
Written by Brett Linton
November 18, 2024
Domestic raw steel mill production slipped to a five-week low last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Weekly production is now at the third-lowest level recorded this year.
US mills produced an estimated 1,623,000 short tons (st) of raw steel in the week ending Nov. 16. Output fell by 26,000 st or 1.6% from the prior week. Recall that in mid-October, production fell to a 20-month low of 1,606,000 st (Figure 1).
Total mill output last week was 4.9% lower than the year-to-date weekly average of 1,707,000 st. Production was down 3.8% compared to the same week last year when mill output totaled 1,687,000 st.
The mill capability utilization rate last week was 73.1%. This was down from 74.2% one week prior and down from 73.4% last year.
Year-to-date production has reached 77,383,000 st at a capability utilization rate of 76.0%. This is 2.1% less than the same period last year when 79,047,000 st had been produced at a capability utilization rate of 76.1%.
Weekly production by region is as follows (weekly changes shown in parentheses):
- Northeast – 120,000 st (down 4,000 st)
- Great Lakes – 583,000 st (down 11,000 st)
- Midwest – 200,000 st (up 6,000 st)
- South – 669,000 st (down 15,000 st).
- West – 51,000 st (down 2,000 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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