U.S. Raw Steel Output Dipped Notably During the Most Recent Week

SEATTLE (Scrap Monster): The weekly statistics published by the American Iron and Steel Institute (AISI) denotes substantial decline in raw steel output in the most recent week ending on 3^rd October, 2020.

The weekly raw steel production totalled 1.484 million net tons at a capability utilization rate of 66.6%. This compares with the production of 1.803 million net tons in the week ending October 3^rd, 2019 at a capability utilization rate of 77.7%. Year-on-year, the production recorded significant decline by 17.7%. On the other hand, the production climbed higher marginally by 0.3% from the prior week. The steel production had totalled 1.480 million net tons at a capability utilization rate of 66.10% in the week ended September 26^th, 2020, AISI report said.

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The production by Southern region topped 575,000 net tons, closely followed by Great Lakes, whose production totalled 531,000 net tons. Midwest and North East production totalled 168,000 net tons and 144,000 net tons respectively. Meantime, Western region accounted for 66,000 net tons of crude steel production.

The adjusted cumulative year-to-date production through 3^rd October, 2020 was 59.444 million net tons. The year-to-date production until October 3^rd, 2019 had totalled 73.936 million net tons. Also, the capability utilization rate dropped from 80.3% a year before to 66.2% this year.