U.S. Steel Mills' Capacity Utilization Rates Tumbled

SEATTLE (Scrap Monster): The domestic raw steel production by U.S. mills recorded substantial decline in the week ending on April 4, 2020. The capacity utilization rate at mills too recorded sharp decline.

In accordance with the most recent data published by the American Iron and Steel Institute (AISI), the raw steel production totalled 1.534 million net tons. This is significantly lower by 18.9% when compared with the corresponding week last year. It must be noted that production had totalled 1.892 million net tons in the week ending April l4, 2019.

The current week production is down by over 8% when compared with the prior week. The U.S. steel mills raw steel production had totalled 1.670 million net tons during the week ended March 28, 2020.

The capability utilization rate of 68.5% during the recent week was significantly lower from 81.3% a year before and 71.6% in the prior week.

The Southern region mills recorded weekly production of 602,000 net tons, closely followed by Great Lakes with 549,000 net tons.

The cumulative production till date through April 4, 2020 was 25.067 million net tons, down by 2.7% from the production of 25.773 million net tons in the corresponding period in 2019. The capability utilization by mills too recorded year-on-year decline from 81.5% to 79.4%, AISI data said.

YOU MAY ALSO BE INTERESTED IN:

U.S. Finished Steel Imports to Drop by 15% in 2020

AISI Posted 21% Dip in YTD Steel Imports