In the latest update from the American Iron and Steel Institute, the week ending July 13, 2024 saw robust activity in the domestic steel production sector. AISI reported a total production of 1,735,000 net tons of raw steel across the United States. This marks a significant increase from the 1,689,000 net tons produced during the same week in 2023, reflecting a notable 2.7% year-over-year growth. Additionally, compared to the preceding week, which recorded 1,695,000 net tons, production rose by 2.4%.
Breaking down the production figures by geographical regions, the North East district contributed 132,000 net tons, the Great Lakes region dominated with 588,000 net tons, the Midwest reported 211,000 net tons, the Southern region saw production of 737,000 net tons, and the Western region contributed 67,000 net tons.
Throughout the year so far, AISI's data reveals a cumulative production of 47,304,000 net tons up to July 13, 2024. This figure, however, shows a 2.5% decline from the 48,502,000 net tons produced during the corresponding period in the previous year. The capacity utilization rate for the current year-to-date stands at 76.5%, slightly lower than the 77.3% reported in the same period last year.
