August 22, 2008

US weekly crude steel production up by 2.1% YoY

American Iron & Steel Industries reported that in the week ending March 22nd 2008, US’s raw steel production was 2.118 million net tons while the capability utilization rate was 88.8%. Production was 2.073 million net tons in the week ending March 22nd 2007, while the capability utilization then was 86.3%. The current week production represents 2.1% increase from the same period in 2007.

Production for the week ending March 22nd 2008 is up 1.5% from the previous week ending March 15th 2008 when production was 2.086 million net tons and the rate of capability utilization was 87.5%.

Adjusted YTD production through March 22nd 2008 was 24.707 million net tons at a capability utilization rate of 88.4%. That is a 5% increase from the 23.515 million net tons during the same period last year, when the capability utilization rate was 83%.

District wise production for the week ending March 15th 2008
1. Northeast Coast: 184
2. Pittsburgh/Youngstown: 218
3. Lake Erie: 83
4. Detroit: 115
5. Indiana/Chicago: 506
6. Midwest: 271
7. Southern: 652
8. Western: 89
(In thousands of net tons)

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.