Steel production dips by 4,000 tons

2014-02-05T12:00:00Z Steel production dips by 4,000 tonsJoseph S. Pete, (219) 933-3316
February 05, 2014 12:00 pm  • 

Raw steel production in the country's Great Lakes region dipped to 654,000 tons in the week that ended Saturday, according to an American Iron and Steel Institute estimate.

Production declined by about 4,000 tons, or about 0.6 percent, from the week prior. Most of the raw steel production in the Great Lakes region takes place in Indiana and the Chicago area.

Production in the Southern District was estimated at 598,000 tons, down from 623,000 tons a week earlier.

Total domestic raw steel production last week was about 1.8 million tons, down from 1.82 million tons a week earlier.

U.S. steel mills had a capacity utilization rate of 75.3 percent last week, down from 76.1 percent a week earlier. The capacity utilization rate had been 76.5 percent at the same time last year.

Domestic mills have produced an estimated 8.33 million tons of steel this year, a 0.4 percent decline from the 8.37 million tons produced during the same period last year.

Steel imports fell 4 percent last year, as compared to 2012, according to an American Iron and Steel Institute. The United States imported 2.5 million net tons of steel in December, a 3.5 percent drop from November.

Imports totaled 32.1 million tons by year's end, or about 23 percent of the overall market share for the full year. Imports of reinforcing bars rose 23 percent in 2013, and hot rolled bar imports increased by 15 percent.

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