Steel Products Prices North America
Weekly Raw Steel Production Rebounds: AISI
Written by David Schollaert
February 27, 2023
Raw steel production by US mills recovered last week after declining slightly the week prior, according to data released by the American Iron and Steel Institute (AISI) on Monday, Feb. 27.
The increase pushed capacity utilization up to 74.9%, driven by gains in tons in all regions except for the Northeast. This is up from the prior week’s 74%, but down from 80.8% a year ago.
Domestic mills produced 1,674,000 net tons in the week ending Feb. 25, up 1.2%, or 20,000 tons, from the previous week, but down 4.6% from 1,755,000 tons in the same week last year.
Adjusted year-to-date (YTD) production through Feb. 25 stood at 13,100,000 tons, with YTD capacity utilization at 73.2%. That’s 6.1% below the 13,854,000 tons in the same YTD period in 2022 when capacity utilization was 80.3%, AISI said.
Production by region for the week ending Feb. 25 is below. (Note: week-over-week change is in parentheses.)
- Northeast, 146,000 tons (down 8,000 tons)
- Great Lakes, 520,000 tons (up 8,000 tons)
- Midwest, 209,000 tons (up 7,000 tons)
- South, 732,000 tons (up 8,000 tons)
- West, 67,000 tons (up 5,000 tons)
Note: The raw steel production tonnage provided in this report is estimated. The figures are compiled from weekly production tonnage provided by approximately 50% of the domestic production capacity combined with the most recent monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends. The AISI production report “AIS 7,” published monthly and available by subscription, provides a more detailed summary of steel production based on data supplied by companies representing 75% of US production capacity.
By David Schollaert, david@steelmarketupdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Products Prices North America
US HR prices rebound, no longer near parity with imports
US hot-rolled coil and offshore hot band moved further away from parity this week as stateside prices have begun to move higher in response to mill increases.
Galvanized buyers report solid demand, balanced inventories
Galvanized buyers reported solid demand and balanced inventories this week and were anticipating the sheet price increase announced by Cleveland-Cliffs on Wednesday.
HRC vs. CRC price spread jumps in second week of new year
The spread between cold-rolled coil (CRC) and hot-rolled coil (HRC) prices jumped during the week of Jan. 8 as cold rolled tags continued to rise while hot rolled tags held steady.
Cliffs increases sheet prices again, seeks $1,150/ton HRC
Cleveland-Cliffs is now targeting base prices of $1,150 per ton for hot-rolled coil (HRC), according to a press release on Wednesday morning, Jan. 3.
Cliffs moves sheet prices higher, seeks $1,100/ton HRC
Cleveland-Cliffs is now targeting base prices of $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC).