Features
AISI: Weekly raw steel production recovers for second week
Written by Brett Linton
October 21, 2024
Domestic raw steel mill production rose last week for the second consecutive week, according to the latest data released from the American Iron and Steel Institute (AISI). While up week over week, production remains near one of the lowest rates recorded this year.
In the week ending Oct. 19, total raw steel mill output was estimated to have been 1,631,000 short tons (st). Production increased 11,000 st, or 0.7%, from the prior week. Recall that earlier this month, production had dipped to a 20-month low of 1,606,000 st (Figure 1).
Last week’s production was 4.8% lower than the year-to-date weekly average of 1,714,000 st. Weekly production is 2.0% less than levels recorded one year ago, when mill output totaled 1,664,000 st.
The mill capability utilization rate last week was 73.4%. This is up from 72.9% one week prior and higher than the 72.4% rate at this time last year.
Year-to-date production has reached 71,069,000 st at a capability utilization rate of 76.4%. This is 1.8% less than the same time frame last year, when 72,337,000 st had been produced at a capability utilization rate of 76.4%.
Weekly production by region is shown below, with the weekly changes noted in parentheses:
- Northeast – 115,000 st (up 7,000 st)
- Great Lakes – 581,000 st (up 11,000 st)
- Midwest – 198,000 st (down 15,000 st)
- South – 686,000 st (up 5,000 st).
- West – 51,000 st (up 3,000 st)
Editor’s note: The raw steel production tonnage provided in this report is estimated and 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
Join SMU and AMU for a Community Chat with Wiley on Trump, Trade, and Tariffs
Want to know the latest on Trump, tariffs, and trade policy - and the impact on both steel and aluminum? Then join SMU, AMU, and leading law firm Wiley for a Community Chat on Thursday, Nov. 13, at 11 am ET.
Final Thoughts: Survey says edition
It's can-kicking at its finest. And it’s been drawn out! Some are getting so good at it, they’re kicking cans and taking names.
Final Thoughts
We just wrapped up another Steel 101 workshop, easily the most hands-on industry workshop on steelmaking and market fundamentals.
Leibowitz: Renewed trade war with China over rare earths
On Oct.10, President Trump announced major increases in tariffs on Chinese goods. The trigger was a new regime of export controls on rare earth metals and products using those elements, including magnets, capital equipment, and catalysts for catalytic converters in cars and trucks.
CRU: Soft demand weighs on sheet imports into the US
US domestic sheet prices have remained rangebound in recent weeks as supply tightness met weak demand. Demand for steel produced in the US increased among some Mexican industrial buyers....