AISI Reported Notable Slump in U.S. Raw Steel Output

SEATTLE (Scrap Monster): The U.S. weekly raw steel output recorded notable decline by 6.2% during the week ending on August 30, 2022, when compared with the corresponding week in 2021. 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 totalled 1.756 million net tons (NT). The domestic mill capability utilization rate stood at 79.7%. It must be noted that the production had totalled 1.872 million NT at a higher capacity utilization rate of 84.8% during the corresponding week a year before. On the other hand, the weekly crude steel production recorded marginal jump by 0.8% over the previous week. The production was 1.742 million NT during the week ended August 13, 2022.

The leading producer was the Southern region, with an output of 765,000 net tons. The production by Great Lakes region stood at 555,000 net tons during the week. The production by other regions (in thousand net tons) is as follows: North East-162, Midwest-205 and Western-69.

The adjusted year-to-date production totalled 57.968 million net tons through August 20, 2022, at a capacity utilization rate of 80.1%. This is slightly lower by 3.3% upon comparison with the production of 59.960 million net tons and the capacity utilization rate of 80.7% in the corresponding year-to-date period a year before.