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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 June 13th, 2020.
The weekly raw steel production totalled 1.210 million net tons at a capability utilization rate of 54.0%. This compares with the production of 1.863 million net tons in the week ending June 13, 2019 at a capability utilization rate of 80.1%. Year-on-year, the production recorded significant decline by 17.7%. On the other hand, the production climbed higher marginally by 1.3% from the prior week. The steel production had totalled 1.195 million net tons at a capability utilization rate of 53.3% in the week ended June 6, 2020, AISI reported.
The production by Southern region topped 503,000 net tons, closely followed by Great Lakes, whose production totalled 408,000 net tons. Midwest and North East production totalled 131,000 net tons and 115,000 net tons respectively. Meantime, Western region accounted for 53,000 net tons of crude steel production.
The adjusted cumulative year-to-date production through June 13th, 2020 was 36.701 million net tons. The year-to-date production until June 13, 2019 had totalled 44.587 million net tons. Also, the capability utilization rate dropped from 81.2% a year before to 68%.