September 07, 2008

US weekly crude steel production up by 8.3% YoY

American Iron & Steel Industries reported that in the week ending November 24th 2007, US’s raw steel production was 2.044 million net tons while the capability utilization rate was 85.7%. Production was 1.887 million net tons in the week ending November 24th 2006 while the capability utilization then was 81.5%. The current week production represents 8.3% YoY increase from the same period in 2006.

Production for the week ending November 24th 2007 is down by 0.4% from the previous week ending November 17th 2007 when production was 2.054 million net tons and the rate of capability utilization was 86.1%.

Adjusted YTD production through November 24th 2007 was 96.206 million net tons at a capability utilization rate of 86.1%. That is a 3.2% YoY decrease from the 99.456 million net tons during the same period 2006 when the capability utilization rate was 89%.

AISI’s estimate is based on reports from companies representing about 75% of the US’s raw steel capability and includes revisions for previous months.