U.S Steel Output Dipped 13% Last Week

SEATTLE (Scrap Monster):  The weekly statistics published by the American Iron and Steel Institute (AISI) suggest notable decline in domestic raw steel production. The mill capability utilization rate too witnessed substantial decline.

The raw steel production by U.S. mills totalled 1.670 million net tons in the most recent week ended March 28, 2020, for which data is available. The production recorded 12.7% decline from the year before. The U.S. steel mills production had totalled 1.913 million net tons during the corresponding week a year before. When matched with the prior week, the production was down by 9.8%. The production during the week ended March 21, 2020 had totalled 1.852 million net tons.

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The capability utilization rate during the current week was 71.6%, compared with 82.2% during the year-ago week and 79.4% in the prior week.

According to AISI, the year-to-date production through March 28, 2020 was 23.653 million net tons, down marginally by 1% from the production of 23.881 million net tons a year before. The capability utilization rate averaged at 80.7%, down from 81.6% a year before.

The Southern region production totalled 645,000 net tons, followed by Great Lakes region with 608,000 net tons. The North East, Midwest and Western production was 202,000 net tons, 155,000 net tons and 60,000 net tons respectively.