This Morning in Metals: AISI releases first weekly raw steel production numbers of 2021

Steel production

This morning in metals news: the American Iron and Steel Institute released its first report on U.S. raw steel production for 2021; Nippon Steel eyes its net-zero emissions goals; and, lastly, the U.S. hot-rolled coil price continues to surge.
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AISI releases first raw steel production data of 2021

For the week ending Jan. 2, the U.S.’s raw steel production totaled 1.65 million net tons, AISI reported Monday afternoon.
Steel output for the week came at a capacity utilization rate of 74.6%. The rate jumped from 72.3% the previous week.

Nippon strives toward net-zero future

Aside from U.S. raw steel production, in a question-and-answer session with Nikkei Asia, Nippon Steel President Eiji Hashimoto discussed the company’s efforts toward reaching net-zero emissions.
Hashimoto told Nikkei the company aims to reach net-zero in the steelmaking process by 2050.

HRC continues rise

Speaking of steel production, U.S. HRC price shows no signs of slowing down, closing Monday at $983 per short ton.
Furthermore, the price is up 27.5% over the past month. The HRC price has more than doubled since mid-Q2 2020, when it fell to around $460 per short ton.
With volatile steel markets, knowing which strategy to execute and when can make all the difference between saving and losing money. See how MetalMiner looks at different market scenarios.

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