Since the 24nd week of this year weekly raw steel production has not beaten 2015 levels until this week.
For the week ending November 5, 2016, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,602,000 net tons of raw steel, a 1.7 percent increase over the previous week and a 4.2 percent increase over the same week one year ago. The estimated capacity utilization rate is 67.5 percent, up from 66.4 percent last week and up from 64.2 percent this time last year.
Estimated total raw steel produced for 2016 YTD is reported to be 75,127,000 tons, down 1.8 percent from the 76,488,000 tons produced during the same period in 2015. The average capacity utilization rate for 2016 YTD is estimated to be 71.3 percent, up from 70.9 for 2015 YTD.
Week-over-week changes per district are as follows: Northeast at 193,000 tons, up 2,000 tons. Great Lakes at 612,000 tons, down 3,000 tons. Midwest at 154,000 tons, up 2,000 tons. South at 570,000 tons, up 24,000 tons. West at 73,000 tons, up 2,000 tons. Total production was 1,602,000 tons, up 27,000 tons.
Note that the AISI estimates capability for Q4 2016 at approximately 31.2 million tons compared to 31.4 million tons for the same period last year and 30.7 million tons for Q3 2016.
About Weekly Raw Steel Production Data
The weekly raw steel production tonnage provided by the AISI is estimated. The figures are compiled from weekly production tonnage provided by 50 percent of the domestic producers combined with monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends. The monthly AISI production report provides a more detailed summary of steel production based on data supplied by companies representing over 75 percent of U.S. production capacity.
SMU Note: Below is a graphic showing the weekly raw steel production history. To use the graphs interactive capabilities, you must view it on our website. You can do this by clicking here. If you need help navigating the website or need to know your login information, contact us at info@SteelMarketUpdate.com or by calling 800-432-3475.
Brett LintonRead more from Brett Linton
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