Steel Institute Declares 25% Dip in Raw Steel Output

SEATTLE (Scrap Monster): The U.S. raw steel production totalled 1.383 million net tons in the week ending August 29, 2020. The capability utilization rate was 61.7%, said the weekly steel industry data published by the American Iron and Steel Institute (AISI).

The estimated production tonnage for the most recent week represents a decline of 24.9% from the corresponding week a year before. The production had totalled 1.841 million net tons in the week ending August 29, 2019, at a capability utilization rate of 79.1%. The current week production compares with the production of 1.412 million net tons at a rate of capacity utilization of 63.0% during the prior week. The production was down marginally by 2.1% over the prior week, AISI data said.

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According to AISI, the adjusted year-to-date production through August 20, 2020 totalled 51.841 million net tons. The capability utilization rate during this period averaged at 66.0%., which is down sharply by 20.1% from the previous year. The raw steel production had totalled 64.917 million net tons at an average capability utilization rate of 80.7% during the similar period last year.

The Southern region led the production with an output of 556,000 net tons, followed by Great Lakes region with 478,000 net tons. The output (in net tons) by other regions is as follows: Midwest (162,000), North East (113,000) and Western (74,000).