U.S. Raw Steel Output Witnessed Notable Dip

SEATTLE (Scrap Monster): The U.S. weekly raw steel output recorded notable decline by 4.7% during the week ending on July 9, 2022, when matched with the comparable week in 2021. This is in accordance with the latest weekly domestic production statistics released by the American Iron and Steel Institute (AISI).

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The U.S. weekly domestic raw steel output totalled 1.748 million net tons (NT). The domestic mill capability utilization rate dropped below 80% to 79.3%. It must be noted that the production had totalled 1.862 million NT at a higher capacity utilization rate of 84.4% during the corresponding week a year before. Also, the weekly crude steel production recorded marginal decline by 1.1% over the previous week. The production was 1.767 million NT during the week ended July 2, 2022.

The leading producer was the Southern region, with an output of 725,000 net tons. The production by Great Lakes region stood at 577,000 net tons during the week. The production by other regions (in thousand net tons) is as follows: North East-164, Midwest-209 and Western-73.

The adjusted year-to-date production totalled 47.616 million net tons through July 9, 2022, at a capacity utilization rate of 80.5%. This is slightly lower by 2.3% upon comparison with the production of 48.761 million net tons and the capacity utilization rate of 80.1% in the corresponding year-to-date period a year before.