AISI Posted Notable Slump in U.S. Raw Steel Production

SEATTLE (Scrap Monster): The U.S. weekly raw steel output recorded modest decline by 2.40% during the week ending on May 20, 2023, upon comparison with the corresponding week a year before. This is with reference to the most recent weekly domestic production statistics published by the American Iron and Steel Institute (AISI).

The U.S. weekly domestic raw steel output totalled 1.728 million net tons (NT). The domestic mill capability utilization rate stood at 76.8%. It must be noted that the production had totalled 1.771 million NT at a higher capacity utilization rate of 81.1% during the corresponding week a year before. On the contrary, the weekly crude steel production recorded modest increase by 0.2% over the previous week. The production was 1.725 million NT during the week ended May 13, 2023.

The leading producer was the Southern region, with an output of 728,000 net tons. The production by Great Lakes region totalled 576,000 net tons during the week. The production by other regions (in thousand net tons) is as follows: North East-147, Midwest-212 and Western-65.

The adjusted year-to-date production totalled 33.615 million net tons through May 20, 2023, at a capacity utilization rate of 75.0%. This is modestly lower by 4.0% upon comparison with the production of 35.003 million net tons and the capacity utilization rate of 80.5% in the corresponding year-to-date period in 2022.

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