Weekly Raw Steel Production Recovers, Still Sub 80%

US output was up 0.5% from the week prior yet down 6.3% from last year’s production of 1,839,000 net tons. Mill capacity utilization last week was 0.4 percentage points above the prior week but 5.1 percentage points below the same period one year ago when utilization was 83.3%.

Adjusted year-to-date production through Sept. 10 totaled 64,041,000 net tons, at an average utilization rate of 79.8%. That’s 3.8% below the same period last year when production was 65,529,000 net tons, though the utilization rate was lower then, at 81%, AISI said.

Output fell in three of five regions last week, but was offset by gains of 29,000 net tons (+5.4%) and 5,000 net tons (+7.7%) in the Great Lakes and West regions, respectively.  

Production by region for the week ending Sept. 10 was as follows: Northeast, 146,000 tons; Great Lakes, 568,000 tons; Midwest, 199,000 tons; South, 740,000 tons; and West, 70,000 tons—for a total of 1,723,000 net tons, up 8,000 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 US production capacity.

By David Schollaert, David@SteelMarketUpdate.com