U.S. Raw Steel Production Surged in the Most Recent Week

SEATTLE (Scrap Monster): The weekly statistics published by the American Iron and Steel Institute (AISI) denotes surge in raw steel output in the latest week ending on February 29, 2020.

The weekly raw steel production totalled 1.923 million net tons at a capability utilization rate of 82.5%. This compares with the production of 1.917 million net tons in the week ending February 29, 2019 at a capability utilization rate of 82.4%. Year-on-year, the production recorded marginal surge by 0.3%. Also, the production was up by 1.2% from the prior week, when production had totalled 1.901 million net tons at a capability utilization rate of 81.5%, AISI reported.

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The production by Southern region topped 723,000 net tons, closely followed by Great Lakes, whose production totalled 691,000 net tons. North East and Midwest production totalled 232,000 net tons and 205,000 net tons respectively. Meantime, Western region accounted for 72,000 net tons of crude steel production.

The adjusted cumulative year-to-date production through February 29, 2020 was 16.350 million net tons in 2020. This is marginally up by 0.8% from the corresponding period a year before. The year-to-date production until February 29, 2019 had totalled only 16.228 million net tons.