U.S. Weekly Raw Steel Production Surged 6%

SEATTLE (Scrap Monster):  The weekly domestic raw steel output surged higher significantly over the previous year during the week ending on March 23, 2019. This is with reference to the recent latest production data released by the American Iron and Steel Institute (AISI). Also, the weekly output recorded marginal jump over the prior week.

The weekly U.S. domestic raw steel production in the week ending on 23 March, 2019 totaled 1.934 million net tons (NT) at a capability utilization rate of 83.1%. It must be noted that the production had totaled only 1.826 million NT at a much lower capacity utilization rate of 78.3% during the same week a year before. Also, the production during the week was up marginally by 0.2% when compared with the previous week production of 1.930 million NT.

The adjusted year-to-date raw steel production by the country totaled 22.244 million NT through the week ending March 23, 2019. The average mill capability utilization rate stood at 81.6% during this period. The production during this period surged higher by 6.6% over the previous year. The capability utilization rate too recorded notable jump. As per AISI data, the production had totaled only 20.860 million NT at a capability utilization rate of 76.60% during the corresponding year-to-date period in 2018.

The major producer was the Southern region, which accounted for more than 38% of the total weekly raw steel production by the country. The region produced 737,000 NT of crude steel. The production by the other regions in thousands of net tons is as follows: North East-214, Midwest-189, Great Lakes-716 and Western-78.