US weekly raw steel output dropped sharply

03 Mar 2015 Last updated at 00:36:21 GMT

ALBANY (Scrap Monster): As per the statistics released by the American Iron and Steel Institute (AISI), the raw steel production by the country dropped significantly during the week ended February 28th, 2015.

The total raw steel output during the week ending February 28th was 1,657,000 net tons. The AISI data indicates that the US raw steel production has dropped by 3.4% during the week. This is in comparison with the previous week (ie., the week ended February 21st) production figures of 1,716,000 net tons. Also, the weekly output suggests a sharp decline of 9.2% in comparison with production of 1,824,000 net tons during same week the previous year.

The capability utilization rate of US steel makers was 70.1% during the week ended February 28th, 2015.

The capacity utilization rate has dropped when compared to 72.6% during the previous week (ie., the week ending February 21st). Also, capacity utilization was lower when compared with the rate of 75.8% during same week the previous year.

The region-wise comparative weekly production figures are provided below:-  

The American Iron and Steel Institute (AISI) is an association of North American steel producers. AISI's member companies represent over three quarters of both U.S. and North American steel capacity.

AISI determines its weekly raw steel production data based on weekly data from 50% of the domestic industry and estimates the rest using monthly production data.