AISI: U.S. Raw Steel Output Posted Notable Dip

SEATTLE (Scrap Monster): The U.S. weekly raw steel output recorded notable decline by 4.6% during the week ending on February 25, 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).

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The U.S. weekly domestic raw steel output dipped to 1.674 million net tons (NT). The domestic mill capability utilization rate stood at 74.9%. It must be noted that the production had totalled 1.755 million NT at a higher capacity utilization rate of 80.8% during the corresponding week a year before. On the contrary, the weekly crude steel production recorded marginal increase by 1.2% over the previous week. The production was 1.654 million NT during the week ended February 18, 2023.

The leading producer was the Southern region, with an output of 732,000 net tons. The production by Great Lakes region totalled 520,000 net tons during the week. The production by other regions (in thousand net tons) is as follows: North East-146, Midwest-209 and Western-67.

The adjusted year-to-date production totalled 13.10 million net tons through February 25, 2023, at a capacity utilization rate of 73.2%. This is modestly lower by 6.10% upon comparison with the production of 13.954 million net tons and the capacity utilization rate of 80.3% in the corresponding year-to-date period in 2022.