August 30, 2008

US weekly crude steel production up by 0.6% YoY

American Iron & Steel Industries reported that in the week ending March 15th 2008, US’s raw steel production was 2.086 million net tons while the capability utilization rate was 87.5%. Production was 2.073 million net tons in the week ending March 15th 2007, while the capability utilization then was 86.3%. The current week production represents 0.6% increase from the same period in 2007.

Production for the week ending March 15th 2008 is down 1.2% from the previous week ending March 8th 2008 when production was 2.113 million net tons and the rate of capability utilization was 88.6%.

Adjusted YTD production through March 15th 2008 was 23.168 million net tons at a capability utilization rate of 88.3%. That is a 5.1% increase from the 22.035 million net tons during the same period last year, when the capability utilization rate was 83%.

District wise production for the week ending March 15th 2008
1. Northeast Coast: 196
2. Pittsburgh/Youngstown: 219
3. Lake Erie: 82
4. Detroit: 110
5. Indiana/Chicago: 478
6. Midwest: 262
7. Southern: 648
8. Western: 91.
(In thousands of net tons)

AISI’s estimate is based on reports from companies representing about 75% of the US’s raw steel capability and includes revisions for previous months.