After ending its 18-week upward trek in the last week of October, US raw steel output resumed its rising trend last week with a 3.3 percent week-on-week increase, the American Iron and Steel Institute (AISI) reported Tuesday.
AISI reported that US raw steel production in the week ended November 7, 2009 totaled 1,544,000 nt, up 3.3 percent from the previous week, and down 27.7 percent from the same week of last year. In the previous week, ended October 31, 2009, US raw steel output underwent a 0.8 percent week-on-week drop, its first weekly decrease since June.
In the week ended November 7, US steelmakers were producing at 64.7 percent capacity, said AISI. This is up from the prior week's 62.7 percent and up from the corresponding week of last year's 50.7 percent.
On a regional basis, as measured by AISI, the largest weekly increase in US raw steel output for the seven days ended November 7 was in the Southern District, where production rose by 63,000 nt from the prior week. Production also rose in the Midwest District (+6,000 nt); the North East Coast District (+5,000 nt); the Western District (+5,000 nt) and the Pittsburgh/Youngstown District (+3,000 nt); while weekly output dropped in the Indiana/Chicago District (-20,000 nt); the Detroit District (-12,000 nt); and the Lake Erie District (1,000 nt).
Year-to-date raw steel production in the US through November 7, 2009 totaled 52,219,000 nt, which is down 43.3 percent from the 92,034,000 nt produced YTD November 7, 2008.
YTD capacity utilization amongst US steelmakers as of November 7 was 49.3 percent, compared to 84.7 percent for the corresponding period of 2008.