Weekly steel output rises in late October

The Washington-based American Iron and Steel Institute (AISI) has reported a 1 percent rise in crude steel output in the United States the week ending Oct. 31 compared with the week before. The mill capacity rate for the week ending Oct. 31 was 70.4 percent.

The rise in weekly steel production is part of an ongoing rebound since COVID-19-related impacts dropped the mill capacity rate in the U.S. to just 51.1 percent the week ending May 2, 2020.

In the week ending Oct. 31, 1.557 million tons of steel were produced in the U.S., representing a 36.1 percent increase from the 1.144 million tons of output the week ending May 2.

One year ago, in the week ending Oct. 31, U.S. mills produced 1.805 million tons of steel, meaning output has dropped 13.7 percent compared with the last week in October last year.

Year-to-date production through the end of October stands at 65.8 million tons, down 18.9 percent from the 81.1 million tons made during the first 10 months of 2019, when the average mill capacity rate was 80.1 percent. This year’s average capacity rate has been 66.7 percent, according to AISI.

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