Prices
Weekly Raw Steel Production Jumps to 2+ Year High
Written by Brett Linton
March 14, 2017
For the week ending March 11, 2017, the American Iron & Steel Institute (AISI) estimated the U.S. steel industry produced 1,791,000 net tons of raw steel, a 1.8 percent increase over the previous week and a 6.3 percent increase over the revised rate from the same week one year ago. The estimated capacity utilization rate for steel production is 75.6 percent, up from 74.3 percent last week and up from 72.1 percent this time last year.
The last time weekly raw steel production was this high was the week ending January 24, 2015 when production was 1,825,000 tons and the capacity utilization rate was 75.9 percent. The last time the weekly capacity utilization rate was this high was the week ending June 11, 2016 when production was 1,779,000 tons and the capacity utilization rate was 76.1 percent.
Estimated total raw steel produced for 2017 YTD is reported to be 17,387,000 tons, up 4.7 percent from the 16,602,000 tons produced during the same period in 2016. The average capacity utilization rate for 2017 YTD is estimated to be 73.4 percent, up from 71.3 for 2016 YTD.
Week-over-week changes per district are as follows: Northeast at 210,000 tons, up 7,000 tons. Great Lakes at 694,000 tons, up 5,000 tons. Midwest at 168,000 tons, up 2,000 tons. South at 641,000 tons, up 14,000 tons. West at 78,000 tons, up 3,000 tons. Total production was 1,791,000 tons, up 31,000 tons.
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 Linton
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