Southern steel output plunges 41,000 NT, US weekly domestic raw steel output falls 1%

As per the statistics released by the American Iron and Steel Institute (AISI), the raw steel production in the country fell by 1% during the week ended August 2nd, 2014.

The total raw steel output during the week ending August 2nd was 1,901,000 net tons. The AISI data indicates that the US raw steel production has dropped 1.0% during the week. This is in comparison with the previous week (ie., the week ended July 26th)  production figures of 1,920,000 net tons. Also, the weekly output suggests a 2.4% rise in comparison with production during same week the previous year.

The capacity utilization rate of US steel makers was 79.0% during the week ended August 2nd.

The capacity utilization rate has dropped lower when compared to 79.8% during the previous week (ie., the week ending July 26th). However, the capacity utilization was higher when compared with the rate of 77.4% during same week the previous year.

 The region-wise comparative weekly production figures are provided below:-   

Steel production (in ‘000 nt)		% Change
Week ended July 26th	Week ended Aug 2nd
North East	236	240	+1.69
Great Lakes	675	693	+2.67
Southern	681	640	-6.02
Western	89	88	-1.12
Midwest	239	240	+0.42

The American Iron and Steel Institute (AISI) is an association of North American steel producers. AISI’s member companies represent over three quarters of both U.S. and North American steel capacity.

AISI determines its weekly raw steel production data based on weekly data from 50% of the domestic industry and estimates the rest using monthly production data.

Source:Scrap Monster

(www.nctv.net)