By Paul Ploumis (ScrapMonster Author)

March 22, 2016 04:48:40 AM

ALBANY (Scrap Monster): As per the statistics released by the American Iron and Steel Institute (AISI), the raw steel production by the country dropped sharply by 3.1% during the week ended March 19th, 2016. The production had climbed higher by 2.9% during the week prior to this.

The total domestic raw steel output during the week ending March 19th was 1,668,000 net tons. The AISI data indicates that the US raw steel production has declined by 3.1% during the week. This is in comparison with the previous week (ie., the week ended Mar 12th)  production figures of 1,722,000 net tons. However, the weekly output represents increase of 4.2% in comparison with production of 1,601,000 net tons during same week the previous year.

The capability utilization rate of US steel makers declined to 71.3% during the week ended Mar 19th, 2016.

The capacity utilization rate has dropped when compared with 73.6% during the previous week (ie., the week ending March 12th). However, capacity utilization was higher when compared with the rate of 67.7% 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.