Steel Products Prices North America

Mill Capacity Utilization Dips Below 80%
Written by David Schollaert
February 15, 2022
For a fourth straight week, U.S. raw steel production has declined. Domestic mills produced a total of 1,758,000 net tons in the week ending Feb. 12, while mill capacity utilization last week averaged 79.8%, reported the American Iron and Steel Institute.
U.S. output was down 1.5% versus the prior week but 1.0% higher than the same year-ago period when production was 1,740,000 net tons. Mill capacity utilization last week saw a 1.3 percentage point decline from the prior week, though it was 3.0 percentage points above the same period one year ago.
Adjusted year-to-date production through Feb. 12 totaled 11,043,000 net tons, at an average utilization rate of 81.6%. That’s up 3.5% from the same period in 2021 when the utilization rate was 76.7% and production was 10,672,000 net tons, AISI said.
Production was down in three out of five regions last week; only the North East and South districts posted a week-on-week increase. The largest decrease versus the prior week in total tons and percentage was seen in the Midwest, down 23,000 net tons or 10.6%, while the West district fell 10.5% or 8,000 net tons versus the prior week.
Below is production by region for the week ending Feb. 12: Northeast, 173,000 tons; Great Lakes, 607,000 tons; Midwest, 195,000 tons; South, 715,000 tons; and West, 68,000 tons – for a total of 1,758,000 net tons, down 27,000 net tons from the prior week.
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 U.S. production capacity. Given the large number of changes to steelmaking capability in the current rapidly evolving market environment, AISI is undertaking a comprehensive review of its raw steel production and capability utilization statistics to ensure that they accurately reflect market conditions. Any updates to capability will be phased in over several weeks. Capability for the first quarter 2022 is approximately 28.3 million tons.
By David Schollaert, David@SteelMarketUpdate.com

David Schollaert
Read more from David SchollaertLatest in Steel Products Prices North America

Nucor slows HRC price climb with $5/ton increase
After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.

Domestic CRC prices surge ahead of imports
The price spread between stateside-produced CR and imports reached its widest margin in over a year.

Evraz raises plate prices $160/ton
Evraz North America (NA) has followed Nucor and SSAB with a plate price increase of its own: up $160 per short ton (st). The increase was effective immediately for all new orders of carbon, high-strength low-alloy, and normalized and quenched-and-tempered plate products, as well as for hot-rolled coil, the steelmaker said in a letter to […]

Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.

Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]