Features
AISI: Raw steel production edges lower, remains weak
Written by Brett Linton
December 16, 2024
US raw steel mill production eased last week, according to the most recent data released by the American Iron and Steel Institute (AISI). Domestic production remains significantly low compared to levels recorded earlier in the year.
Total raw output was estimated at 1,651,000 short tons (st) through the week ending Dec. 14. Production declined by 17,000 st, or 1.0%, from the previous week, when raw output had risen to an 11-week high. Recall that in early October production touched a 20-month low of 1,606,000 st (Figure 1).
Total mill output last week was 3.0% lower than the year-to-date (YTD) weekly average of 1,703,000 st. Production is down 3.2% compared to the same week one year prior when output totaled 1,705,000 st.
The mill capability utilization rate last week was 74.3%. This is down from the previous week (75.1%) and down from this time last year (74.2%).
YTD production now totals 83,836,000 st at a capability utilization rate of 75.7%. This is down 2.3% from the same time frame last year when 85,832,000 st was produced at a capability utilization rate of 76.0%.
Weekly production by region is as follows (weekly changes shown in parentheses):
- Northeast – 126,000 st (up 6,000 st)
- Great Lakes – 557,000 st (up 4,000 st)
- Midwest – 225,000 st (down 9,000 st)
- South – 682,000 st (down 20,000 st).
- West – 61,000 st (up 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
Read more from Brett LintonLatest in Features
Final Thoughts: The hidden cost of analysis paralysis in the age of uncertainty
With US economic indicators all over the map, it’s no wonder the steel market has experienced a whole lot of analysis paralysis this year.
Steel imports tumbled further in July and August
US steel imports declined for the second consecutive month in July, according to recently finalized US Commerce Department data.
CRU: Anglo and Teck announce intention to merge
Directors of Anglo American and Teck Resources have conditionally agreed to join together in what they describe as a merger of equals with a focus on copper.
Steel Summit: ITR economist urges execs to prepare for growth, not recession
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.
SMU Scrap Survey: Current Sentiment rises as Future Sentiment falls
SMU’s current Scrap sentiment index increased this month while future sentiment declined, according to our latest ferrous scrap survey data.