The most recent weekly production statistics suggests notable decline in raw steel production by the country during the week ended on October 10, 2020. The data published by the American Iron and Steel Institute (AISI) points to significant year-on-year decline in output during the week.
The domestic raw steel production during the week totalled 1.502 million net tons. The capability utilization rate during the week was 67.90%. This compares with the production and capability utilization rate of 1.805 million net tons and 78.0% respectively during the corresponding week a year before. Upon comparison with the week ended October 10th, 2019, the production is down by almost 16.8%.
The production for the week was up marginally from the prior week, when it had totalled 1.484 million net tons. The capability utilization rate was 66.6% in the week ended October 3, 2020.
The topmost producer was the Southern region, whose output totalled 592,000 net tons. The production by the other regions is as follows: Great Lakes (538,000 net tons), Midwest (154,000 net tons), North East (147,000 net tons) and Western (71,000 net tons).
The adjusted year-to-date production through October 10th, 2020 totalled 60.946 million net tons at an average capability utilization rate of 66.2%. This is down by almost 19.50%, upon comparison with the production of 75.741 million net tons during the same period a year before, when the capability utilization rate had averaged at 80.1%.
