US Steel Capacity Utilization Reflects Continued Downturn
The American Iron & Steel Institute’s latest figures on raw steel production last week in the United States reveal a decrease of 4.0% from the corresponding period in the previous year. In the week ending on April 29, 2023, domestic raw steel production was recorded at 1.716 million net tons, while the capability utilization rate was 76.3%. In contrast, during the same week in 2022, production was 1.788 million net tons, with a capability utilization rate of 81.9%. These statistics illustrate a downturn in production that is characteristic of the current economic climate.
Broken down by region, the North East, Great Lakes, Midwest, Southern, and Western districts recorded production of 147, 575, 220, 707, and 67 thousand net tons, respectively. These numbers reveal the significant contribution of the Southern region, which produced over 40% of the raw steel, to the overall production of the United States.
Moreover, adjusted year-to-date production through April 29, 2023, has fallen 4.4% from the same period in the previous year, reaching 28.386 million net tons, with a capability utilization rate of 74.6%. This contrasts with the 29.687 million net tons of steel produced during the same period last year, when the capability utilization rate was 80.3%.