AISI announced that in the week ending November 9, 2024, the U.S. domestic raw steel production registered at 1,649,000 net tons, with a capability utilization rate of 74.2%. This marks a 2.3% decrease from the same week in 2023, when production was 1,687,000 net tons and the capability utilization was slightly lower at 73.4%. Despite this year-over-year decline, the industry showed resilience with a 1.2% increase in production from the previous week ending November 2, 2024, which recorded 1,629,000 net tons and a capability utilization rate of 73.3%.
Breaking down the production by regions for the week ending November 9, 2024, the North East produced 124,000 net tons, the Great Lakes region contributed 594,000 net tons, the Midwest accounted for 194,000 net tons, the Southern region led with 684,000 net tons, and the Western region produced 53,000 net tons. These figures highlight the Southern region as the leading contributor to the week's production totals.
The year-to-date figures through November 9, 2024, reflect a total production of 75,760,000 net tons, operating at a capability utilization rate of 76.0%. This is a 2.1% decrease compared to the same period in 2023, where production was 77,360,000 net tons with a capability utilization rate of 76.1%. These numbers indicate a slight contraction in the steel industry, reflecting broader economic pressures and challenges faced over the past year.
