Domestic raw steel production is down compared to a year ago.
Adjusted year-to-date domestic raw steel production was 57,968,000 net
tons through the week of August 20, a 3.3 percent decline compared to the same
time period in 2021, according to the Washington, D.C.-based American Iron and
Steel Institute (AISI).
Raw steel production in 2021 was 59,960,000 net tons over the same
period.
For the week ending Aug. 20, 2022, domestic raw steel was 1,756,000 net
tons, according to AISI.
That's a 6.2 percent decrease compared to the 1,872,000 net tons
produced during the same week in 2021.
The capability utilization rate of domestic steel mills was 79.7 percent
for the week ending Aug. 20, a 5.1 percent decrease compared to 84.8 percent for
the same week in 2021.
The capability utilization rate is a measure of steel mill operating
rates.
Northeastern Minnesota's six taconite plant produce iron ore pellets,
the raw material used to make steel.
Five of the six plants are currently operating.
Northshore Mining Co. in Silver Bay and Babbitt remains idle until at
least spring of 2023.