Posted on 18 Nov 2020
The weekly statistics published by the American Iron and Steel Institute (AISI) denotes substantial decline in raw steel output in the most recent week ending on 14th November, 2020.
The weekly raw steel production totalled 1.580 million net tons at a capability utilization rate of 71.4%. This compares with the production of 1.823 million net tons in the week ending November 14th, 2019 at a capability utilization rate of 78.8%. Year-on-year, the production recorded significant decline by 13.3%. On the other hand, the production climbed higher marginally by 0.4% from the prior week. The steel production had totalled only 1.573 million net tons at a capability utilization rate of 71.1% in the week ended November 7th, 2020, AISI report said.
The production by Southern region topped 627,000 net tons, closely followed by Great Lakes, whose production totalled 556,000 net tons. Midwest and North East production totalled 177,000 net tons and 147,000 net tons respectively. Meantime, Western region accounted for 73,000 net tons of crude steel production.
The adjusted cumulative year-to-date production through 14th November, 2020 was 68.959 million net tons. The year-to-date production until November 14th, 2019 had totalled 84.800 million net tons. Also, the capability utilization rate dropped from 80.0% a year before to 66.9% this year.
Source:Scrap Monster
