Features
AISI: Raw steel production eases further
Written by Brett Linton
June 17, 2024
Domestic raw steel production fell to a seven-week low last week, according to the latest release by the American Iron and Steel Institute (AISI).
Total US steel mill output is estimated to have been 1,704,000 short tons (st) in the week ending June 15, down 12,000 st, or 0.7%, from the week prior. Raw production this week is 0.6% lower than the year-to-date weekly average of 1,715,000 st. Last week’s production is down 2.0% compared to the same week one year ago when production totaled 1,738,000 st.
The mill capability utilization rate was 76.7% last week. This rate is lower than the 77.3% rate recorded both one week prior and this time last year.
Year-to-date production stands at 40,494,000 st at a capability utilization rate of 76.4%. Annual production is down 2.8% from the same time frame last year, when 41,641,000 st were produced at a capability utilization rate of 77.8%.
Weekly production by region is shown below, with the weekly changes noted in parentheses:
- Northeast – 125,000 st (down 4,000 st)
- Great Lakes – 554,000 st (up 12,000 st)
- Midwest – 206,000 st (down 3,000 st)
- South – 758,000 st (down 12,000 st)
- West – 61,000 st (down 5,000 st)
Editor’s note: The raw steel production tonnage provided in this report is estimated. It 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
Holiday notice: Independence Day
Steel Market Update’s offices will be closed on July 4th for Independence Day.
SMU survey: Lead times remain short, nearing nine-month lows
Steel mill lead times remain near some of the lowest levels witnessed in months, according to our latest market canvass to steel service centers and manufacturers.
SMU survey: Mills more open to price talks on sheet products
Sheet steel buyers found mills more willing to negotiate spot pricing this week, according to our most recent survey data.
Final thoughts
It’s been a slow start to the week as far as news goes, something you’d expect ahead of a shortened Independence Day week. That said, it’s not as if transactions have completely ground to a halt. (Prices continue to drift lower.) And while news might be slow, rumors of low-priced deals, price hikes, and trade cases seem to have filled that void.
HR import duties face 5-year sunset review
Antidumping and countervailing duties (AD/CVDs), in place for more than twenty years on imports of hot-rolled (HR) steel from six countries, are up for their fourth sunset review.