Crude steel production in the US was reported 1.923mn nt (1.745mn mt) in the week ended January 11, 2020—a 2.8pc increase over the same week in 2019 according to the American Iron and Steel Institute (AISI).
Production increased by 1.3pc compared to the prior week with capacity utilization reaching 82.5pc, AISI reported. The most recent week where these capacity utilization numbers were achieved was May 11, 2019, when production had reached 82.5pc capacity utilization to produce 1.927mn nt of steel. AISI reported that volume capacity at 3.664mn nt, was also higher than 3.658mn nt during the same week in 2019.
Crude steel production volumes as well as the capacity utilization rate exceeded this week’s level only during six different weeks in March, April, and May 2019. In 2018, the only week where volume capacity exceeded the production amount for the week was Nov 17 that recorded a volume capacity of 1.924mn nt, which was also the only week that year that met or exceeded the 82.5pc utilization rate.
All regions increased production compared to the prior week except the north east where production declined 9pc to 211,000nt.
Compared to the previous week, the great lakes region increased production by 2pc to 677,000nt, midwest by 2pc to 214,000nt, south by 3pc to 721,000, and west by 7pc to 100,000nt.
High production is likely to continue into a few more weeks of Q1 2020. However, concerns over weak steel demand are likely to impact production as the quarter moves on.