U.S. Raw Steel Output Posted Notable Dip

SEATTLE (Scrap Monster): The U.S. weekly raw steel output recorded notable decline by 8.7% during the week ending on December 24, 2022, 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).

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The U.S. weekly domestic raw steel output dipped to 1.614 million net tons (NT). The domestic mill capability utilization rate stood at 72.3%. It must be noted that the production had totalled 1.768 million NT at a higher capacity utilization rate of 80.1% during the corresponding week a year before. Also, the weekly crude steel production recorded marginal decline by 0.8% over the previous week. The production was 1.627 million NT during the week ended December 17, 2022.

The leading producer was the Southern region, with an output of 670,000 net tons. The production by Great Lakes region increased over the previous week to 557,000 net tons during the week. The production by other regions (in thousand net tons) is as follows: North East-119, Midwest-197 and Western-71.

The adjusted year-to-date production totalled 87.605 million net tons through December 24, 2022, at a capacity utilization rate of 78.0%. This is slightly lower by 5.6% upon comparison with the production of 92.809 million net tons and the capacity utilization rate of 81.2% in the corresponding year-to-date period in 2021.