In the week ending on June 3, 2023, the American iron and steel industry observed domestic raw steel production of 1.754 million net tons, accompanied by a capability utilization rate of 78.0%. Comparatively, during the same period in the previous year (week ending June 3, 2022), production stood at 1.757 million net tons, with a capability utilization rate of 80.5%. Last week's production reflects a marginal decline of 0.2% from the corresponding period last year.
Analyzing the weekly data, it is noteworthy that production for the week ending June 3, 2023, witnessed a 1.0% increase compared to the previous week ending May 27, 2023. During that period, production amounted to 1.737,000 million tons, and the rate of capability utilization stood at 77.2%.
For a regional breakdown of the weekly production ending June 3, 2023, the following figures were recorded in thousands of net tons: North East: 140; Great Lakes: 571; Midwest: 213; Southern: 768; and Western: 62, totaling to 1,754.
Turning our attention to the year-to-date figures, the adjusted production through June 3, 2023, reached 37.246 million net tons, with a capability utilization rate of 75.5%. This represents a decline of 3.3% when compared to the same period last year, which saw production totaling 38.350 million net tons, with a capability utilization rate of 80.5%.