Weekly Raw Steel Production Nears Yearly High

For the week ending August 16, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,919,000 net tons (NT) of raw steel, a 1.2 percent increase over the previous week and a 3.3 percent increase over the same week one year ago. The estimated capacity utilization rate is 79.8 percent, up from 78.8 percent last week and up from 77.6 percent last year. The last time weekly raw steel production was at this level was for the week ending July 26, 2014 with 1,920,000 tons produced at a capacity utilization rate of 79.8 percent. The high prior to this was in mid-May 2014 when production was at 1,961,000 tons with a capacity utilization rate of 80.0 percent.

Estimated total raw steel produced for 2014 YTD is reported to be 60,263,000 tons, up 0.5 percent from the 59,959,000 tons produced during the same period in 2013. The average capacity utilization rate for 2014 YTD is estimated to be 76.9 percent, unchanged from 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.