The U.S. raw steel production for the week ending December 14, 2024, recorded a total of 1,651,000 net tons, with a capacity utilization rate of 74.3%. This marks a 3.2% decrease in production compared to the same week in 2023, where production reached 1,705,000 net tons, and the utilization rate was slightly lower at 74.2%. The data suggests that while production volumes have decreased, the difference is marginal, with the utilization rate showing a steady performance.
Weekly Comparison: Changes in Steel Production and Utilization Rates
Compared to the previous week (ending December 7, 2024), the U.S. steel industry saw a 1.0% drop in production, which fell from 1,668,000 net tons to the current week's figure of 1,651,000 net tons. At the same time, the capacity utilization rate slipped from 75.1% to 74.3%. The slight reduction in output and the dip in the utilization rate reflect potential fluctuations or adjustments within the steel manufacturing processes.
Steel production across different regions shows varying outputs for the week ending December 14, 2024. Here’s how the numbers stack up across the main districts:
• Northeast: 126,000 net tons
• Great Lakes: 557,000 net tons
• Midwest: 225,000 net tons
• Southern: 682,000 net tons
• Western: 61,000 net tons
The Southern district remains the highest producer, with 682,000 net tons, contributing a significant portion to the overall national output.
Looking at the year-to-date statistics through December 14, 2024, the total adjusted steel production was 83,836,000 net tons. This figure represents a 2.3% decrease from the 85,832,000 net tons recorded in the same period last year. In terms of capability utilization, the rate stands at 75.7% for 2024, which is slightly lower than the 76.0% seen during the same timeframe in 2023. This downward trend in both production and capacity utilization reflects ongoing adjustments and potential external factors influencing the market.
