AISI Points to 36% Dip in Raw Steel Production

The U.S. raw steel production totalled 1.195 million net tons in the week ending June 6, 2020. The capability utilization rate was 53.3%, said the weekly steel industry data published by the American Iron and Steel Institute (AISI).

The estimated production tonnage for the most recent week represents a decline of 36% from the corresponding week a year before. The production had totalled 1.866 million net tons in the week ending June 6, 2019, at a capability utilization rate of 80.2%. The current week production compares with the production of 1.206 million net tons at a rate of capacity utilization of 53.8% during the prior week. The production was down marginally by 0.9% over the prior week, AISI data said.

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According to AISI, the adjusted year-to-date production through June 6, 2020 totalled 35.491 million net tons. The capability utilization rate during this period averaged at 68.6%., which is down sharply by 16.9% from the previous year. The raw steel production had totalled 42.723 million net tons at an average capability utilization rate of 81.4% during the similar period last year.

The Southern region led the production with an output of 500,000 net tons, followed by Great Lakes region with 411,000 net tons. The output (in net tons) by other regions is as follows: Midwest (117,000), North East (113,000) and Western (54,000).