Salient Iron And Steel Statistics

This table presents key data on the production, trade, and consumption of iron and steel products in the United States, alongside relevant global figures. It includes metrics such as pig iron and direct-reduced iron production, raw steel output by type, steel mill product shipments, imports and exports, capacity utilization, stock levels, and price indices. This information is vital for understanding the health and trends of the U.S. iron and steel industry, which is a foundational sector for manufacturing, construction, and infrastructure development. Economic decisions, policy-making, and market analyses rely on these statistics to gauge supply-demand dynamics, trade balances, and industry competitiveness.

Analyzing the data from 2019 through 2023 reveals several notable trends. U.S. pig iron production fluctuated, dipping to 18.3 million metric tons in 2020 amid pandemic disruptions but rebounding to 22.5 million metric tons in 2023, slightly above 2019 levels. Direct-reduced iron production showed consistent growth, rising from 2.99 million metric tons in 2019 to 5.48 million metric tons in 2023, reflecting increased adoption of this production method. Raw steel production experienced a sharp decline in 2020 to 72.7 million metric tons but recovered to 81.4 million metric tons by 2023, though still below the 2019 peak of 87.8 million metric tons. Capacity utilization mirrored this pattern, dropping to 68.1% in 2020 before stabilizing near 76% in 2023. Steel mill product exports increased steadily, reaching 8.19 million metric tons in 2023, while imports decreased from 25.3 million metric tons in 2019 to 25.6 million metric tons in 2023, indicating a modest improvement in trade balance. The Producer Price Index peaked at 381.5 in 2021 before falling to 319.6 in 2023, suggesting easing price pressures. Globally, direct-reduced iron and pig iron production both rose, with raw steel production increasing from 1.87 billion metric tons in 2019 to 1.89 billion metric tons in 2023, underscoring ongoing global demand growth despite recent volatility.