UNITED STATES September 01 2015 9:35 AM

NEW YORK (Scrap Register): United States raw steel production plummeted further to 1,703,000 net tons in the week ended August 29, while the capability utilization rate was 71.2 percent, as per the latest figures from American Iron and Steel Institute (AISI).

Production was 1,930,000 net tons in the week ended August 29, 2014 while the capability utilization then was 80.2 percent. The current week production represents a 11.8 percent decrease from the same period in the previous year.

Production for the week ended August 29, 2015 is down 2.2 percent from the previous week ended August 22, 2015 when production was 1,742000 net tons and the rate of capability utilization was 72.9 percent.

Adjusted year-to-date production through August 29, 2015 was 59,216,000 net tons, at a capability utilization rate of 72.6 percent.

That is down 8.0 percent from the 64,338,000 net tons during the same period last year, when the capability utilization rate was 78.0 percent.