Steel Institute Reported Notable Dip in U.S. Raw Steel Output

SEATTLE (Scrap Monster): The weekly statistics published by the American Iron and Steel Institute (AISI) denotes notable dip in raw steel output in the most recent week ending on 21^st November, 2020.

The weekly raw steel production totalled 1.582 million net tons at a capability utilization rate of 71.5%. This compares with the production of 1.823 million net tons in the week ending November 21^st, 2019 at a capability utilization rate of 78.8%. Year-on-year, the production recorded significant decline by 13.2%. On the other hand, the production climbed higher marginally by 0.1% from the prior week. The steel production had totalled only 1.580 million net tons at a capability utilization rate of 71.4% in the week ended November 14^th, 2020, AISI report said.

RELATED NEWS:

AISI Highlights Top Priorities of Steel Industry

U.S. Steel Industry to Benefit from Infrastructure Investment Push

The production by Southern region topped 665,000 net tons, closely followed by Great Lakes, whose production totalled 541,000 net tons. Midwest and North East production totalled 170,000 net tons and 136,000 net tons respectively. Meantime, Western region accounted for 70,000 net tons of crude steel production.

The adjusted cumulative year-to-date production through 21^st November, 2020 was 70.541 million net tons. The year-to-date production until November 21^st, 2019 had totalled 86.623 million net tons. Also, the capability utilization rate dropped from 80.0% a year before to around 67% this year.