US raw steel production slightly down

According to data released this week by the American Iron and Steel Institute (AISI), US raw steel production is down 0.5 percent. The previous week's tonnage totaled 1.910 million net tons (nt), while numbers for the week ended October 28, 2006 totaled 1.899 million nt. Raw steel production was also down when compared to the same week of the previous year. The week ended October 28, 2005 registered 2.038 million net tons of steel produced, a 6.8 percent decrease from the previous week in 2005. Year to date net tonnage as of October 28, 2006 totals 88.7 million nt, with mills working at an average capacity utilization rate of 86.7 percent, up 4.7 percent from the same period the previous year, when mills produced 84.7 million nt and operated at an 85.6 percent capability utilization rate. The Southern district produced the most raw steel for the week ending October 28, 2006, followed by the Indiana/Chicago district, producing 601,000 nt and 485,000 nt respectively.