US raw steel production declines

According to data released this week by the American Iron and Steel Institute (AISI), US raw steel production for the week ending October 7 was down 5.3 percent from the previous week. The tonnage of the week before had totaled 2.086 million net tons (nt), while the numbers for the week ending October 7, 2006 only reached 1.975 million nt. Raw steel production is also down when comparing the week ending October 7, 2006, with the same week of the previous year. Last year, net tonnage for the week in question registered at 2.039 million nt - 64,000 nt more than the same week this year. Year to date net tonnage as of October 7, 2006, totals 82.9 million nt with mills working at an average capacity utilization rate of 87.3 percent. This net tonnage figure is up 5.4 percent from the same period of the previous year when mills produced 78.6 million nt and operated at an 85.6 percent capacity utilization rate. The Southern district produced the most raw steel for the week ending October 7, 2006, followed by the Indiana/Chicago district, producing 596,000 nt and 526,000 nt respectively.