Weekly Raw Steel Production Drops 3.4%

For the week ending March 29, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,820,000 net tons (NT) of raw steel, a 3.4 percent decrease over the previous week and a 0.4 percent decrease over the same week one year ago. The estimated steel capacity utilization rate is 75.7 percent, down from 78.4 percent last week and down from 76.2 percent last year. Readers should note that raw steel production for the week ending March 22nd was up significantly from near term historical standards, so production for this current week is back in line with previous production levels. 

Estimated total raw steel produced for 2014 YTD is reported to be 23,084,000 NT, down 0.4 percent from the 23,180,000 NT produced through the same period in 2013. The average capacity utilization rate for 2014 YTD is estimated to be 76.5 percent, down from 77.0 percent for 2013 YTD. Note that there has been a change in production capability for 2014- comparisons between 2013 and 2014 capacity utilization rates are against different production levels, so the total tonnage figures are best suited for yearly comparisons.