Steel Products Prices North America
May 11, 2021
Weekly Raw Steel Production Sees Slight Slip
Written by David Schollaert
Raw steel production by U.S. mills edged down 0.8% in the week ending May 8 compared to the week prior, the first decrease in nearly a month, according to the American Iron and Steel Institute (AISI). Production totaled 1,774,000 net tons last week while mill utilization averaged 78.1%, down from 1,788,000 net tons and 78.7% week on week.
The impact of the pandemic-driven shutdowns from the same period last year cannot be overstated, as current production represents a 45.1% increase from year-ago levels when production was 1,223,000 net tons and utilization was just 55.4%. Although production has recovered since, the market is still lagging pre-pandemic levels, according the data compiled by AISI. When comparing the latest data to the equivalent pre-COVID-19 period in 2019, current production is down 9.5%.
