Steel Products Prices North America

Weekly Raw Steel Production Stumbles to 10 Month Low

Written by Brett Linton

November 1, 2016

For the week ending October 29, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,575,000 net tons of raw steel, a 1.4 percent decrease over the previous week and a 3.3 percent decrease over the same week one year ago. The estimated capacity utilization rate is 66.4 percent, down from 67.3 percent last week and down from 68.1 percent this time last year.

Estimated total raw steel produced for 2016 YTD is reported to be 73,525,000 tons, down 1.9 percent from the 74,951,000 tons produced during the same period in 2015. The average capacity utilization rate for 2016 YTD is estimated to be 71.4 percent, down from 71.7 for 2015 YTD.

Week-over-week changes per district are as follows: Northeast at 191,000 tons, up 4,000 tons. Great Lakes at 615,000 tons, down 17,000 tons. Midwest at 152,000 tons, up 2,000 tons. South at 546,000 tons, down 10,000 tons. West at 71,000 tons, down 1,000 tons. Total production was 1,575,000 tons, down 22,000 tons.

Note that the AISI estimates capability for Q4 2016 at approximately 31.2 million tons compared to 31.4 million tons for the same period last year and 30.7 million tons for Q3 2016.

About Weekly Raw Steel Production Data

The weekly raw steel production tonnage provided by the AISI is estimated. The figures are compiled from weekly production tonnage provided by 50 percent of the domestic producers combined with monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends. The monthly AISI production report provides a more detailed summary of steel production based on data supplied by companies representing over 75 percent of U.S. production capacity.

SMU Note: Below is a graphic showing the weekly raw steel production history. To use the graphs interactive capabilities, you must view it on our website. You can do this by clicking here. If you need help navigating the website or need to know your login information, contact us at info@SteelMarketUpdate.com or by calling 800-432-3475.

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.

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