U.S. Raw Steel Output Recorded Notable Decline

SEATTLE (Scrap Monster): The weekly statistics published by the American Iron and Steel Institute (AISI) indicates substantial decline in raw steel output in the most recent week ending on 31^st October, 2020.

The weekly raw steel production totalled 1.557 million net tons at a capability utilization rate of 70.4%. This compares with the production of 1.805 million net tons in the week ending October 31^st, 2019 at a capability utilization rate of 78.0%. Year-on-year, the production recorded significant decline by 13.7%. On the other hand, the production climbed higher marginally by 1.0% from the prior week. The steel production had totalled 1.542 million net tons at a capability utilization rate of 69.70% in the week ended October 24^th, 2020, AISI report said.

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The production by Southern region topped 583,000 net tons, closely followed by Great Lakes, whose production totalled 569,000 net tons. Midwest and North East production totalled 173,000 net tons and 160,000 net tons respectively. Meantime, Western region accounted for 72,000 net tons of crude steel production.

The adjusted cumulative year-to-date production through 31^st October, 2020 was 65.806 million net tons. The year-to-date production until October 31^st, 2019 had totalled 81.154 million net tons. Also, the capability utilization rate dropped from 80.1% a year before to 66.7% this year.