US raw steel production increased by 0.5pc to 1.54mn nt (1.40mn mt) with a capacity utilization rate of 69.7pc for the week ended October 24, 2020, according to the American Iron and Steel Institute (AISI).  

 

Steel output declined by 14.6pc from 1.80mn nt, and capacity utilization fell by 8.3pc compared to the same week in 2019. From January to October 24, 2020, production declined by 19.3pc to 64mn nt from 79.4mn nt during the same prior-year period. Total capacity declined by 2.64mn nt on an annual basis for the week ended Oct 24. 

 

Regionally, compared to the same week a year ago, production in the North East declined by 57pc to 135,000nt; Great Lakes’ output fell by 24.6pc to 536,000nt; Output in the Midwest increased by 1.7pc to 171,000nt; the South’s production declined by 17pc to 600,000nt and the West’s output fell by 4.1pc to 73,000nt. 

 

Compared to last week, the regions’ production increased, save for the North East, where output fell for the second consecutive week, by 5.9pc to 135,000nt from 143,000nt.

 

The crude steel tonnage provided by AISI is compiled by combining weekly production figures from 50pc of domestic producers and monthly production data. 

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