The USA steel production points to slowdown in new month

In the week ending on November 6 domestic crude steel production in the United States, which was 1,841 million tons, fell 1.0% from the previous week ended October 30, 2021, when production was controlled at 1,860 million tons.

The decrease in production continues the trend that started in the week ending October 23 of this year, where there was a 0.6 percent decrease compared to the previous week. This was followed by another 0.5 percent decline in the week ending October 30.

Over the three-week period, weekly production in the US fell 2.18 percent. As measured by AISI's capacity utilization rate, the mill capacity ratio fell from 85.3 percent on 16 October to 83.4 percent on 6 November during this time.

While steel prices have declined in some parts of the world, prices in the US seem unaffected by the slight decrease in production. The published reports also show that scrap prices will increase in the US Midwest during the buying period in early November.

One scrap processor told Recycling Today that the flow of peddlers arriving at their shipyard was "pretty steady", while another "materials met demand." It shows that these two different interpretations are made out of premium quality scrap produced at the factory.

The slight contraction in US factory output could be partially offset by strong and stable demand for scrap overseas.

According to foreign sources, Turkey's scrap demand seems weak

A processor on the East Coast says buyers there pay about $500 per ton for containerized shredding. Metals information services provider Davis Index said offers from Turkey were lackluster in early November, but buyers in that country and the Indian subcontinent placed steady orders in the second half of October.

Political events could play a role in the advancement of American steel production, with an agreement allowing some of the European steel to enter the US without tariffs, and the passage of a long-awaited infrastructure spending bill.

AISI thanked the Biden Administration officials for the agreement with the EU. He stated that he endorsed both political movements. He said the deal will help ensure that the United States can "work to develop a renewed partnership with the EU to address global steel capacity."

AISI added that the infrastructure bill will eventually increase demand for US-made steel.