U.S. Raw Steel Production Surged 1.9%

SEATTLE (Scrap Monster): The U.S. domestic steel mills reported weekly raw steel production of 1.914 million net tons in the week ended February 1, 2020. This equates to 1.9% rise when matched with the same week a year before. The production had totaled only 1.878 million net tons during the week ended February 1, 2019.

The weekly production recorded marginal decline by 0.3% over the prior week. The U.S. steel mill production had totaled 1.919 million net tons during the week ending January 25, 2020.

According to the American Iron and Steel Institute (AISI), the domestic steel mills reported capability utilization rate of 82.1% during the recent week. The rate is significantly higher when matched with 80.7% a year before. However, the weekly capability utilization rate witnessed marginal week-on-week decline. The steel mill capability utilization rate had totaled 82.3% in the prior week.

The cumulative U.S. raw steel production through February 1, 2020 totaled 8.769 million net tons at a capability utilization rate of 82.3%. This is notably higher from the previous year, when production and capability utilization rate had totaled 8.561 million net tons and 80.4% respectively.

The largest producer was the Southern region with an output of approximately 714,000 net tons, closely followed by Great Lakes with 680,000 net tons. The output by the other regions was: North East (230,000 net tons), Midwest (204,000 net tons) and Western (86,000 net tons).

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