By Paul Ploumis 31 Jul 2015 Last updated at 05:08:40 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 marginally during the week ended July 25th, 2015. The production had increased by 0.7% during the week prior to this.
The total domestic raw steel output during the week ending July 25th was 1,740,000 net tons. The AISI data indicates that the US raw steel production has inched lower by 0.7% during the week. This is in comparison with the previous week (ie., the week ended July 18th) production figures of 1,753,000 net tons. Also, the weekly output represents a sharp decline of 9.1% in comparison with production of 1,914,000 net tons during same week the previous year.
The capability utilization rate of US steel makers dropped to 72.8% during the week ended July 25th, 2015.
The capacity utilization rate has declined marginally when compared to 73.3% during the previous week (ie., the week ending July 18th). Also, capacity utilization was considerably lower when compared with the rate of 79.6% during same week the previous year.
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.