Steel output stays on growth track

Steel producers in the United States continue to respond to demand for finished steel by raising their output at furnaces this summer.

According to the Washington-based American Iron and Steel Institute (AISI), in the week ending Saturday, July 24, nearly 1.87 million tons of crude steel was made in the U.S., representing another 0.5 percent uptick from the previous week.

AISI says the late July capability utilization (capacity) rate has reached 84.6 percent. The July 2021 weekly figure represents a a 38.4 percent increase compared with production of just 1.35 million tons during the same week in 2020, when furnaces were running at 60.3 percent of capacity.

2021 production through July 24 has surpassed 52.6 million tons, an 18.4 percent from the 44.5 million tons made at furnaces and melt shops during the first six-and-a-half months of 2020.

The ongoing steady demand for finished steel has helped spur a 2021 ferrous scrap market with prices trading at the higher end of their range throughout the year.