SEATTLE (Scrap Monster): The weekly statistics published by the American Iron and Steel Institute (AISI) denotes notable decline in raw steel output in the most recent week ending on 7th November, 2020.
The weekly raw steel production totalled 1.573 million net tons at a capability utilization rate of 71.1%. This compares with the production of 1.823 million net tons in the week ending November 7th, 2019 at a capability utilization rate of 78.8%. Year-on-year, the production recorded significant decline by 13.7%. On the other hand, the production climbed higher marginally by 1.0% from the prior week. The steel production had totalled only 1.557 million net tons at a capability utilization rate of 70.4% in the week ended October 31st, 2020, AISI report said.
The production by Southern region topped 639,000 net tons, closely followed by Great Lakes, whose production totalled 544,000 net tons. Midwest and North East production totalled 162,000 net tons and 155,000 net tons respectively. Meantime, Western region accounted for 73,000 net tons of crude steel production.
The adjusted cumulative year-to-date production through 7th November, 2020 was 67.379 million net tons. The year-to-date production until November 7th, 2019 had totalled 82.977 million net tons. Also, the capability utilization rate dropped from 80.0% a year before to 66.8% this year.