The week ending December 28, 2024, saw a slight decrease in domestic raw steel production compared to the same period the previous year. The total production for the week was 1,658,000 net tons, which marks a 2.8% decline from the 1,705,000 net tons produced during the week ending December 28, 2023. Although the capability utilization rate improved slightly, rising to 74.7% from 74.2% in 2023, production levels still exhibited a downward trend in both weekly and year-to-date figures.
The decrease in weekly production is notable, with the week ending December 28, 2024, showing a 1.9% decline from the preceding week, where production had totaled 1,690,000 net tons. The capability utilization for that week had been slightly higher, at 76.1%. This indicates that, although steel mills operated at a relatively steady rate, production is currently lower compared to recent periods.
When examining the data more closely, regional production trends illustrate variations in output. The Southern district, which typically leads production, maintained its strong output at 682,000 net tons. The Great Lakes district followed closely behind with 563,000 net tons, while the Midwest and North East districts produced 223,000 and 131,000 net tons, respectively. The Western district recorded the lowest production among all regions, with 59,000 net tons for the week ending December 28, 2024.
On a broader scale, the year-to-date production through December 28, 2024, stood at 87,049,000 net tons, with a capability utilization rate of 75.6%. This represents a 2.5% decrease from the 89,243,000 net tons produced during the same period in 2023, when the utilization rate had been marginally higher at 76.0%. This year-to-date decline reflects ongoing challenges faced by the steel industry, including shifting market demand and possible operational constraints.
