AISI: U.S. Raw Steel Output Reported Surge

SEATTLE (Scrap Monster): The U.S. weekly raw steel output recorded marginal surge by 0.20% during the week ending on March 16^th, 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 1.714 million net tons (NT). The domestic mill capability utilization rate stood at 77.2%. It must be noted that the production had totalled 1.718 million NT at a modestly lower capacity utilization rate of 76.9% during the corresponding week a year before.

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On the other hand, the weekly crude steel production recorded marginal decline by 1.2% when compared with the previous week. The production was 1.734 million NT during the week ended March 9, 2024, with a capability utilization rate of 78.1%.

The leading producer was the Southern region, with an output of 760,000 net tons. The production by Great Lakes region totalled 580,000 net tons during the week. The production by other regions (in thousand net tons) is as follows: North East-134, Midwest-181 and Western-59.

The adjusted year-to-date production totalled 18.307 million net tons through March 16, 2024, at a capacity utilization rate of 75.90%. This is down by 3.10% upon comparison with the production of 18.886 million net tons and the capacity utilization rate of 77.7% in the corresponding year-to-date period in 2023.