U.S. Raw Steel Output Witnessed Notable Dip in the Most Recent Week

SEATTLE (Scrap Monster): The most recent weekly production statistics suggests notable decline in raw steel production by the country during the week ended on September 12, 2020. The data published by the American Iron and Steel Institute (AISI) points to notable year-on-year decline in output during the week.

The domestic raw steel production during the week was 1.459 million net tons. The capability utilization rate during the week was 65.1%. This compares with the production and capability utilization rate of 1.801 million net tons and 77.4% respectively during the corresponding week a year before. Upon comparison with the week ended September 12, 2019, the production is down by almost 19%.

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The production for the week is up marginally by 2.2% from the prior week, when it had totalled 1.428 million net tons. The capability utilization rate was 63.7% in the week ended September 5, 2020.

The topmost producer was the Southern region, whose output totalled 565,000 net tons. The production by the other regions is as follows: Great Lakes (530,000 net tons), Midwest (172,000 net tons), North East (122,000 net tons) and Western (70,000 net tons).

The adjusted year-to-date production through September 12, 2020 totalled 54.728 million net tons at an average capability utilization rate of 65.9%. This is down by nearly one-fifth, upon comparison with the production of 68.531 million net tons during the same period a year before, when the capability utilization rate had averaged at 80.3%.