US steel production fell 10% last week

Production figures are the lowest since January 2017 and capacity utilization is the lowest since April 2017.

Two weeks ago, steel mills were hit by coronavirus-related car production stops, with all American automakers announcing some level of shutdowns as demand fell as local and state governments introduced asylum orders in an attempt to stem the spread of the disease.

Several steel mills - mainly the integrated steel companies AK Steel, ArcelorMittal and US Steel - announced the idling of their combined four blast furnaces in the United States last week with a total production of over 5 million tonnes per year.

Steel production in the south of the country fell the most, falling 73,000 to 645,000. The Great Lakes were not far behind, with production declining by 69,000 to 608,000.

Production in the Midwest fell 29,000 to 155,000, while production in the Northeast fell 12,000 to 202,000.

Total US production this year fell 228,000 thousand to 23.65 million. Compared to the same period last year, for the first time this year, total production fell below 2019 volumes. Average capacity utilization since the beginning of the year was 80.7%, compared to 81.6% in the same period in 2019.

AISI crude steel production tonnage is estimated and compiled using weekly data provided by 50% of domestic producers and monthly data for the remainder.