Steel Products Prices North America
June 30, 2020
U.S. Steel Production Declines by 19 Percent in First Half
Written by Tim Triplett
Halfway through the year, steel production by U.S. mills is down by nearly 19 percent compared with the first half of 2019 as steel demand continues to suffer from the coronavirus. Adjusted year-to-date production through June 27 totaled 39,165,000 net tons at an average utilization rate of 67.0 percent, reported the American Iron and Steel Institute.
Prior to the COVID-19 shutdowns in March, domestic steelmakers were operating at an average of approximately 82 percent of capacity in 2020, producing around 1.9 million tons per week, by AISI estimates. Since then, weekly steel output has averaged about 1.2 million tons, with the mills at around 55 percent of capacity.
