US weekly raw steel production dips by 44% YoY

American Iron & Steel Industries reported that in the week ending December 6th 2008, US's raw steel production was 1.182 million tons while the capability utilization rate was 49.5%. Production was 2.102 million tons in the week ending December 6th 2008, while the capability utilization then was 88.1%. The current week production represents a 43.8% YoY decrease from the same period in 2007.

Production for the week ending December 6th 2008 is down by 1.3% WoW from the previous week ending November 29th 2008 when production was 1.197 million tons and the rate of capability utilization was 50.2%.

Adjusted YTD production through December 6th 2008 was 97.129 million tons, at a capability utilization rate of 84.3%. That is a 3.9% YoY decrease from the 101.002 million tons during the same period last year, when the capability utilization rate was 87%.

District wise production for the week ending December 6th 2008

1. Northeast Coast: 87

2. Pittsburgh/Youngstown: 126

3. Lake Erie: 20

4. Detroit: 62

5. Indiana/Chicago: 312

6. Midwest: 174

7. Southern: 347

8. Western: 54

(In thousands of net tons)

AISI's estimate is based on reports from companies representing about 75% of the US's raw steel capability and includes revisions for previous months.

information from www.steelguru.com