Synopsis:
The latest AISI report shows that domestic raw steel production in the US has increased by 6.6% compared to the same week last year, with a production of 1,699,000 net tons and a capability utilization rate of 73.9%.
Article:
The week ending November 4, 2023, has seen a notable uptick in the United States’ raw steel production. The output reached 1,699,000 net tons, while the capability utilization rate, a measure of how fully the nation's steel production capacity was being utilized, stood at 73.9 percent. This represents a 6.6 percent increase in production from the corresponding week last year, which saw outputs of 1,594,000 net tons and a utilization rate of 71.5 percent.
However, the week's production did see a slight decrease of 0.5 percent from the previous week, when production was 1,707,000 net tons with a slightly higher capability utilization rate of 74.3 percent.
Looking at the broader picture, the adjusted year-to-date domestic raw steel production through November 4, 2023, was reported at 75,322,000 net tons. Unfortunately, this reflects a slight downturn of 0.7 percent from the 75,855,000 net tons produced during the same period last year. Furthermore, the current year's capability utilization rate has dipped to 75.8 percent, a decrease from last year's 78.1 percent.
Production varied across the country's districts, with the Great Lakes region leading at 555,000 net tons. The Southern district followed with 762,000 net tons, the Midwest at 179,000 net tons, the North East at 132,000 net tons, and the Western district at 71,000 net tons, culminating in the national total.
It’s important to note that the tonnage figures provided are estimates, as this report is compiled from weekly production data provided by around half of the domestic production capacity, along with the most recent monthly data for the remaining capacity. This report is designed to serve as a barometer for industry trends rather than exact figures. For a more detailed summary of steel production, interested parties can refer to the AISI production report “AIS 7”, which is published monthly and available by subscription. This report gathers data from companies that represent 75% of the U.S. production capacity.
Conclusion:
The US raw steel production has shown growth over the past year, with a 6.6% increase in weekly production compared to the same period last year. Although there has been a slight decline in production and capability utilization compared to the previous week and the year-to-date figures, the overall trend indicates a steady demand for steel. As the industry looks forward, it will continue to balance the intricacies of capacity utilization and production demands.
