US steel production increased slightly

The weekly U.S. steel output reported modest gains for the week ending August 10, 2019 over the previous year. This is in line with the latest weekly production statistics published by the American Iron and Steel Institute (AISI). In addition, production for the week decreased compared to the previous week.

Domestic steel production in the United States for the week ended August 10, 2019 was 1.867 Mt at a capacity utilization rate of 80.2%. It should be noted that during the same week a year earlier, production amounted to 1.886 million tonnes with a much lower capacity utilization rate of 79.4%. Meanwhile, production during the week fell slightly by 1.6% from the previous week of production of 1.889 million tonnes. The capacity utilization rate was then 81.5%.

YTD-adjusted crude steel production in the country was 59.812 million tonnes for the week ended 10 August 2019. Production during this period increased by 4.7% over the previous year. The capacity utilization rate also recorded a noticeable jump to 81.0%. According to AISI, production was only 57.140 million tonnes with a capacity utilization rate of 77.3% during the corresponding period from the beginning of the year in 2018.