U.S. Raw Steel Output Dipped 27% in Recent Week

SEATTLE (Scrap Monster): The most recent weekly production statistics suggests notable decline in raw steel production by the country during the week ended on August 8, 2020. The data published by the American Iron and Steel Institute (AISI) points to notable year-on-year decline in output during the week.

The domestic raw steel production during the week was 1.354 million net tons, The capability utilization rate during the week was 60.4%. This compares with the production and capability utilization rate of 1.841 million net tons and 79.1% respectively during the corresponding week a year before. Upon comparison with the week ended August 8, 2019, the production is down by almost 26.5%.

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The production for the week is up marginally from the prior week, when it had totalled 1.328 million net tons. The capability utilization rate was 59.3% in the week ended August 1, 2020.

The topmost producer was the Southern region, whose output totalled 538,000 net tons. The production by the other regions is as follows: Great Lakes (471,000 net tons), Midwest (146,000 net tons), North East (128,000 net tons) and Western (71,000 net tons).

The adjusted year-to-date production through August 8, 2020 totalled 47.456 million net tons at an average capability utilization rate of 66.0%. This is down by nearly one-fifth, upon comparison with the production of 59.394 million net tons during the same period a year before, when the capability utilization rate had averaged at 80.7%.