AISI: U.S. Raw Steel Output Dipped Significantly

SEATTLE (Scrap Monster): The U.S. weekly raw steel output recorded significant decline by 5.0% during the week ending on February 10, 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 1.710 million net tons (NT). The domestic mill capability utilization rate stood at 77.0%. It must be noted that the production had totalled 1.800 million NT at a modestly higher capacity utilization rate of 80.5% during the corresponding week a year before.

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On the contrary, the weekly crude steel production recorded marginal increase by 0.50% over the previous week. The production was 1.702 million NT during the week ended February 3, 2024, at a capability utilization rate of 76.6%.

The leading producer was the Southern region, with an output of 759,000 net tons. The production by Great Lakes region totalled 560,000 net tons during the week. The production by other regions (in thousand net tons) is as follows: North East-133, Midwest-188 and Western-70.

The adjusted year-to-date production totalled 9.936 million net tons through February 10, 2024, at a capacity utilization rate of 76.40%. This is down by 1.40% upon comparison with the production of 10.074 million net tons and the capacity utilization rate of 78.1% in the corresponding year-to-date period in 2023.