For the week ending January 12, 2012, weekly domestic raw steel production rose 3.6% to 1.819 million tons (mt) – the largest jump since December 2011, and is up 8.3% from the recent low of 1.679 mt for the week of October 27, 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.

Capacity utilization came in at 75.9%, up from 72.6% last week but down from the year-ago level of 77.6%. AISI recently revised their total capacity number for 1Q13 to 30.8 million tons from 32.7 in 4Q12 and 32.3 in 1Q12.

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.

Source: AISI and Steel Market Intelligence