US steel capacity utilization fell to 70.6%

Weekly statistics released by the American Iron and Steel Institute (AISI) show a significant decline in crude steel production in the last week ending November 28, 2020.

Weekly crude steel production was 1.561 million net tonnes at a capacity utilization rate of 70.6%. By comparison, in the week ended 28 November 2019, 1.823 million net tonnes were produced at a capacity utilization rate of 78.8%. Compared to the same period last year, production dropped significantly by 14.4%. Meanwhile, production declined slightly by 1.3% from the previous week. Steel production for the week ended November 21, 2020 was only 1.582 million net tonnes at a 71.5% capacity utilization rate, according to the AISI report.

Production in the Southern Region exceeded 655,000 net tonnes, followed by the Great Lakes, which produced 549,000 net tonnes. Smelting in the Midwest and Northeast was 162,000 net tonnes and 129,000 net tonnes, respectively. Meanwhile, the Western region accounted for 66 thousand tons of pure steel produced unrefined.

Adjusted cumulative smelting from the beginning of the year to 28 November 2020 was 72.186 million net tonnes. From the beginning of the year to 28 November 2019, production amounted to 88.446 million net tons. In addition, the capacity utilization rate fell from 80.0% a year earlier to 67.2% in the same period this year.