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PrintRaw steel production in the US declined for the 12th consecutive week and dropped to levels not seen since the country's last recession in 2001, according to data reported Tuesday by the Washington DC-based American Iron and Steel Institute.
The volume for the week ended November 8 was 1.56 million st, down 3.1% from the previous week and 28% off the 2008 peak of 2.167 million st reported in the week ended August 16.
Steel mills operated at an estimated 65.2% of capacity versus an estimated 67.3% in the previous week and 88.5% a year ago.
Aggregate production for 2008 is now falling behind last year's pace, lagging by -0.7%. US steel mills produced 92.002 million st of raw steel for the 45 weeks through November 8, compared with 92.570 million st a year ago.
The cumulative capacity utilization rate for the year is 86.2%, compared with
86.6% in 2007.
The South produced 480,000 st (-11.9%)of raw steel last week, Indiana/Chicago produced 366,000 st (+5.8%); the Midwest produced 220,000st (-6.0%); Pittsburgh/Youngstown was 157,000 st (-6.0%); the Northeast was 147,000 st (+8.0%%); Detroit was 75,000 st (+13.6%); the West was 67,000st (-8.2%); and Lake Erie was 44,000 st (+15.8).
AISI's weekly figures are based on estimated raw steel production from a sampling of steel producers representing about 50% of US steel manufacturing capacity. Because the figures are compiled anonymously, it is not possible to identify which individual mills in each region have reduced or raised production. -Platts
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