Written by: Brett Linton
The American Iron & Steel Institute (AISI) reported their final raw steel production numbers for the month of November 2012. This estimation is different than the weekly raw steel production as it is based on 75 percent of the domestic mills reporting vs. 50 percent for the weekly estimates.
Total raw steel production for the month of November was reported to be 7,472,187 net tons with 4,369,294 NT being produced by electric arc furnaces (EAF) and 3,102,893 NT produced by blast furnaces.
November 2012 production was reported by the AISI to have been 0.3 percent lower than October 2012 raw steel production.
Total raw steel production for 2012 through the month of November was 89,865,201 NT which is 3.3 percent above the first eleven months of 2011.
Capacity utilization rate for the month of November, as reported by the AISI, was 70.1 percent and, for the year through November, the utilization rate was 75.5 percent. When taking the elimination of the RG Steel capacity into consideration, Steel Market Update calculates the actual capacity utilization rate for the month of November was 74.5 percent. For the first eleven months 2012 we calculate the capacity utilization rate was 77.6 percent – slightly higher than the 75.5 percent reported by the AISI with the November numbers.
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