U.S. steelmakers have produced 5.6 percent more raw steel so far this year. Adjusted year-to-date production through Nov. 24 totaled 85,639,000 net tons. The increase is the result of a nearly 4 percent improvement in capacity utilization, to an average annual rate of 78.1 percent from 74.2 percent in 2017, reports the American Iron and Steel Institute.
U.S. raw steel production for the week ending Nov. 24 totaled 1,906,000 net tons for a current capability utilization rate of 81.3 percent, down a slight 0.9 percent from the prior week, but up 11.6 percent from the prior year when the industry was operating at 73.3 percent of its capacity.
Following is production by district for the Nov. 24 week: North East: 222,000 net tons; Great Lakes, 712,000 net tons; Midwest, 207,000 net tons; South, 683,000 net tons; and West, 82,000 net tons, for a total of 1,906,000.
The raw steel production tonnage provided in this report is estimated. The figures are compiled from weekly production tonnage from 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 AISI monthly production report provides a more detailed summary of steel production based on data supplied by companies representing 75 percent of U.S. production capacity.
Note, mill capability for fourth-quarter 2018 is approximately 30.8 million tons, compared to 30.6 million tons for the same period last year and 30.8 million tons for third-quarter 2018.
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