Steel Products Prices North America
August 9, 2022
Weekly Raw Steel Production Eases Again
Written by David Schollaert
Raw steel production by US mills slipped for a second straight week, easing to a 17-month low of 1,723,000 net tons in the week ending Aug. 6. This is the lowest weekly production figure reported since early February 2021. Domestic capacity utilization shrank lower to a 15-month low of 78.2%, marking the fourth week below 80%, according to the latest data from the American Iron and Steel Institute.
US output was down 0.2% versus the week prior and down 7.8% versus the same year-ago period when production was 1,869,000 net tons. Mill capacity utilization last week was 0.2 percentage points below the prior week and 6.5 percentage points below the same period one year ago when utilization was 84.7%.
