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US weekly raw steel output drops 2.7%

As per the statistics released by the American Iron and Steel Institute (AISI), the raw steel production by the country dropped sharply during the week ended September 12th, 2015. The production had increased by 2.2% during the week prior to this.

The total domestic raw steel output during the week ending September 12th was 1,694,000 net tons. The AISI data indicates that the US raw steel production has declined by 2.7% during the week. This is in comparison with the previous week (ie., the week ended Sep 5th)  production figures of 1,741,000 net tons. Also, the weekly output represents a sharp decline of 9.8% in comparison with production of 1,878,000 net tons during same week the previous year.

The capability utilization rate of US steel makers dropped to 70.9% during the week ended Sep 12th, 2015.

The capacity utilization rate has slipped marginally when compared to 72.8% during the previous week (ie., the week ending September 5th). Also, capacity utilization was considerably lower when compared with the rate of 78.1% during same week the previous year.

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

 

Region

Steel production (in ‘000 nt)

% Change

Week ended Sep 5th

Week ended Sep 12th

North East

232

211

-9.05

Great Lakes

618

610

-1.29

Southern

597

573

-4.02

Western

82

90

+9.76

Midwest

212

210

-0.94

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.

Source:scrapmonster

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