Steel production is down 2.9 percent year to date

While steel production increased over the short term over the last week, it still lags 2022's production through June 24.

In the week ending June 24, domestic raw steel production totaled 1.758 million net tons and the capability utilization rate was 78.1 percent, according to the American Iron & Steel Institute (AISI), Washington. This is an increase of 1.2 percent from the same period in 2022, when production was 1.738 million net tons and capability utilization was 79.6 percent. Additionally, the current week’s production represents a 0.9 percent increase from the previous week ending June 17, when production totaled 1.743 million net tons and capability utilization was 77.5 percent.

The AISI says adjusted year-to-date production through June 24 was 42.486 million net tons at a capability utilization rate of 75.8 percent. That is down 2.9 percent from the 43.743 million net tons produced during the same period last year, when the capability utilization rate was 80.3 percent.

For the week ended June 24, production was highest in the Southern region at 766,000 tons. The Great Lakes region produced 571,000 tons, while the Midwest made 216,000 tons and the North East region produced 140,000 net tons. The Western region had the least production at 65,000 tons, AISI reports.