The U.S.'s steel output registered year-on-year and week-on-week upward trajectory in the first week ending January 6, 2024, according to the Washington-based American Iron and Steel Institute (AISI).

U.S. produced 1.71 million tonnes of crude steel in the given period, up 1.6% from 1.68 million tonnes both in the previous week and the same period last year, AISI data showed.

The country was divided into five geographical regions by AISI: South, Great Lakes, Midwest, Northeast and West region. Five regions' steel output in the week stood at 771,000 tonnes, 557,000 tonnes, 190,000 tonnes, 125,000 tonnes and 64,000 tonnes, respectively.

Healthy domestic steel sector boosted U.S. scrap prices, while steel mills were making efforts to get scrap at lower prices this January.

In early January, U.S. mills were bidding $20-50/t for scrap from the Great Lakes region (depending on grade), according to London-based Kallanish Commodities steel news service.

Turkey's demand for imported ferrous cargoes for February shipment is expected to be robust, which may cheer up the scrap market in the United States.

(Writing by yan.sun  Editing by Emma Yang)
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