AISI Recorded Significant Decline in U.S. Raw Steel Output

SEATTLE (Scrap Monster): The U.S. weekly raw steel output recorded modest decline by 3.40% during the week ending on March 2^nd, 2024, 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 1.716 million net tons (NT). The domestic mill capability utilization rate stood at 77.3%. It must be noted that the production had totalled 1.776 million NT at a modestly higher capacity utilization rate of 79.5% during the corresponding week a year before.

Also, the weekly crude steel production recorded marginal decline by 0.60% over the previous week. The production was 1.727 million NT during the week ended February 24, 2024, with a capability utilization rate of 77.8%.

The leading producer was the Southern region, with an output of 755,000 net tons. The production by Great Lakes region totalled 566,000 net tons during the week. The production by other regions (in thousand net tons) is as follows: North East-134, Midwest-193 and Western-68.

The adjusted year-to-date production totalled 14.859 million net tons through March 2, 2024, at a capacity utilization rate of 75.50%. This is down by 3.80% upon comparison with the production of 15.450 million net tons and the capacity utilization rate of 78.1% in the corresponding year-to-date period in 2023.

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