Weekly Raw Steel Production Improves

For the week ending April 19, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,808,000 net tons (NT) of raw steel, a 1.3 percent increase over the previous week but a 1.6 percent decrease over the same week one year ago. The estimated capacity utilization rate is 75.2 percent, up from 74.2 percent last week but down from 76.7 percent last year. This is in spite of the continued problems plaguing US Steel and production at Gary Works (50-75 percent of steelmaking capacity) and Great Lakes (steelmaking capacity is shut down).

Estimated total raw steel produced for 2014 YTD is reported to be 28,439,000 NT, down 0.9 percent from the 28,687,000 NT produced through the same period in 2013. The average capacity utilization rate for 2014 YTD is estimated to be 76.1 percent, down from 76.9 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.