US Raw Steel production plummets to 1,700,000 net tons

UNITED STATES June 02 2015 3:42 PM

NEW YORK (Scrap Register): United States domestic raw steel production plummeted by 8.6% year-on-year to 1,700,000 net tons in the week ended May 30, while the capability utilization rate was 71.9 percent, as per latest figures from the American Iron and Steel Institute (AISI).

According to AISI, production was 1,860,000 net tons in the week ended May 30, 2014 while the capability utilization then was 77.3 percent.

Production for the week ended May 30, 2015 is down 1.8 percent from the previous week ended May 23, 2015 when production was 1,732,000 net tons and the rate of capability utilization was 73.3 percent.

Adjusted year-to-date production through May 30, 2015 was 36,642,000 net tons, at a capability utilization rate of 72.3 percent. That is down 7.2 percent from the 39,504,000 net tons during the same period last year, when the capability utilization rate was 77.0 percent.