According to recent data from the American Iron and Steel Institute (AISI), U.S. raw steel production for the year through Dec. 21, 2019, had increased 1.8% compared with the same period in 2018.
Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook
Production for the nearly full year in 2019 totaled 94.45 million tons, according to the report, at a capacity utilization rate of 80.1%. The figure marked a 1.8% increase from the 92.78 million tons produced during the same period in 2018 (when the capacity utilization rate hit 78.2%).
Meanwhile, for the week ending Dec. 21, 2019, production totaled 1.87 million tons at a capacity utilization rate of 80.7%. The weekly production total marked a 0.3% increase from the 1.86 million tons produced during the same week in 2018 (when the capacity utilization rate reached 79.4%).
Furthermore, production for the week ending Dec. 21, 2019, marked a 1.2% increase compared with the previous week, when production reached 1.84 million tons at a capacity utilization rate of 79.7%.
The steel industry’s capacity utilization rate reached as high as 81.9% earlier in the year. The U.S. Department of Commerce, when it implemented Section 232 tariffs on imported steel in March 2018, identified the 80% mark as a target to be reached for the domestic steel sector.
Broken down by region, production totals for the week ending Dec. 21, 2019, reached:
- Northeast: 207,000 tons
- Great Lakes: 681,000 tons
- Midwest: 194,000 tons
- Southern: 695,000 tons
- Western: 89,000 tons
Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!
U.S. steel prices picked up near the tail end of 2019 after slumping throughout the year.
As of Christmas week, the U.S. HRC price reached $560/st, up 7.69% from the same time the previous month, according to MetalMiner IndX data.
U.S. HDG reached $834/st, up 5.3% on a month-over-month basis.
U.S. CRC ticked up to $754/st, up 6.35% on a month-over-month basis.
The U.S. plate price reached $694/st, up 12.85% from the same time the previous month.