Steel Products Prices North America
April 7, 2020
Weekly U.S. Steel Production Declines Another 8 Percent
Written by Tim Triplett
U.S. raw steel production plunged by another 8.1 percent in the week ending April 4, on top of a nearly 10 percent drop the prior week, as the coronavirus crisis eats into steel demand.
Production in the April 4 week totaled 1,534,000 net tons with the mills operating at an average capability utilization rate of 68.5 percent, down from a rate of 71.6 percent in the week ending March 28, reported the American Iron and Steel Institute. The current week’s production represents an 18.9 percent decrease from the same week last year. The last time raw production was this low was the week ending Jan. 2, 2016, when 1,440,000 tons were produced at a capacity utilization rate of 60.2 percent. The last time the capacity utilization rate was this low was the week ending Dec. 31, 2016, when 1,592,000 tons were produced at a rate of 67.1 percent.
