US Steel Production Capacity Utilization Crosses 70% Mark
In the week ending on October 31, 2020, domestic raw steel production was 1,557,000 net tons while the capability utilization rate was 70.4 percent.
Production was 1,805,000 net tons in the week ending October 31, 2019 while the capability utilization then was 78.0 percent. The current week production represents a 13.7 percent decrease from the same period in the previous year. Production for the week ending October 31, 2020 is up 1.0 percent from the previous week ending October 24, 2020 when production was 1,542,000 net tons and the rate of capability utilization was 69.7 percent.
Adjusted year-to-date production through October 31, 2020 was 65,806,000 net tons, at a capability utilization rate of 66.7 percent. That is down 18.9 percent from the 81,154,000 net tons during the same period last year, when the capability utilization rate was 80.1 percent.
Broken down by districts, here's production for the week ending October 31, 2020 in thousands of net tons: North East: 160; Great Lakes: 569; Midwest: 173; Southern: 583 and Western: 72 for a total of 1557.