Weekly domestic raw steel production rebounded 1.6% from last week’s 1.831 million tons (mt) to 1.861 mt for the week ending March 1, 2014, reaching the highest rate since October 5, 2013.  Production is some 0.2% above the year-ago level of 1.857 mt.

Capacity utilization also increased from 76.3% last week to 77.4% this week, which is an almost four-month high.  The rate is just slightly below the year-ago level of 77.5%.

The lowest production since the recession began was 800,000 tons for the week of December 27, 2008, while the highest was 2.005 mt for the week of May 12, 2012. The lowest capacity utilization rate since the recession began was 33.5% for the week of December 27, 2008; the highest was 81.1% on May 12, 2012.

We would caution readers that only half of the AISI reporting companies release their weekly production in “real time” so the other half of this data is estimated using the last month’s reported production & operating rate. What this means is that when production is changing, the weekly data is actually understating the change.

Source: AISI and Steel Market Intelligence