Weekly domestic raw steel production increased for the third successive week, rising 0.7% to1.942 million tons (mt) for the week ending February 18, 2012, and increasing 6.7% from the year-ago level.  The highest production on record dating back to 2004 was 2.215 mt on May 13, 2006; the lowest was 0.8 mt on December 27, 2008.

The capacity utilization rate continued a three-week uptrend as well, increasing from 78.1% last week to 78.6% this week, and surpassing the 75.3% rate recorded a year ago. However, this is below the 94.7% rate recorded on January 15, 2005.  Capacity utilization hit a low of 33.5% on December 27, 2008.

Note: AISI weekly production data only includes real-time input from 50% of producing members; the remainder of the data is a guesstimate based on each company’s prior-month production and therefore the weekly AISI data lags when there are production cuts or increases going on.