U.S. Steel Capacity Utilization Slumped to 70.6%

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 28^th November, 2020.

The weekly raw steel production totalled 1.561 million net tons at a capability utilization rate of 70.6%. This compares with the production of 1.823 million net tons in the week ending November 28^th, 2019 at a capability utilization rate of 78.8%. Year-on-year, the production recorded significant decline by 14.4%. Meantime, the production edged lower marginally by 1.3% from the prior week. The steel production had totalled only 1.582 million net tons at a capability utilization rate of 71.5% in the week ended November 21^st, 2020, AISI report said.

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The production by Southern region topped 655,000 net tons, closely followed by Great Lakes, whose production totalled 549,000 net tons. Midwest and North East production totalled 162,000 net tons and 129,000 net tons respectively. Meantime, Western region accounted for 66,000 net tons of crude steel production.

The adjusted cumulative year-to-date production through 28^th November, 2020 was 72.186 million net tons. The year-to-date production until November 28^th, 2019 had totalled 88.446 million net tons. Also, the capability utilization rate dropped from 80.0% a year before to 67.2% during the same period this year.