Steel Products Prices North America
October 27, 2020
No Sign of Slowing in Weekly Steel Production
Written by Tim Triplett
Weekly raw steel production by U.S. mills rose again by 0.5 percent to 1,542,000 net tons in the week ending Oct. 24. The mill operating rate hit 69.7 percent, up from 69.4 percent the week prior. Despite the steady increases over the past 20 weeks as the economy recovers from COVID, domestic steel production was still 14.6 percent below the 1,805,000 tons produced in the same week last year, reported the American Iron and Steel Institute.
Adjusted year-to-date production through Oct. 24 totaled 64,023,000 net tons, at an average utilization rate of 66.34 percent. That is down 19.3 percent from the same period last year, when the utilization rate was 80.1 percent, AISI said.
