US Raw Steel Output Dipped 1.4%

SEATTLE (Scrap Monster): The domestic raw steel production in the U.S. dropped significantly by 1.4% during the week ending on November 30, 2019. This is upon comparison with the production during prior week as well as the corresponding week a year before.

According to weekly production statistics published by the American Iron and Steel Institute (AISI), the raw steel production totalled 1.835 million net tons. This is down by 1.4%, when compared with the production during the prior week. The production had totalled 1.861 million net tons in the week ended November 23, 2019. Meantime, the capability utilization rate of U.S. steel mills dropped from 80.4% to 79.3% over the week.

The production as well as the capability utilization rate recorded marginal decline when matched with the previous year. The production stood lower by 3.6% from 1.903 million net tons during the corresponding week a year before. The capability utilization rate in the week ending November 30, 2018 was 81.2%.

The figures compiled by AISI states that year-to-date production through November 30, 2019 totalled 88.919 million net tons, marginally higher by 2.0% when compared with the production of 87.193 million net tons during the comparable period in 2018. The average capability utilization rate too was up from 78.1% to 80.2% in the year-to-date period.

Among regions, Southern region topped with a production of 699,000 net tons of steel, followed by Great Lakes (635,000 net tons) and North East (215,000 net tons).