US steel mill utilization remained below 70% for the second consecutive week, American Iron and Steel Institute data showed Monday.

Two weeks ago, the industry's utilization rate fell below 70% for the first time since the week ended January 30. In the week ended Saturday, US mills produced 1.632 million st of steel, up from 1.626 million st the week before. The industry's capability utilization was 69.8% last week, up from 69.5%.

Steel production last week was down 3.3% from the same week last year, when mills were operating at 70.5% of their capability. Year-to-date steel production has been down 1.4% this year. Capability utilization has been 72.2% this year, nearly flat compared to 72.1% in the same period last year.

Northeast steel production rebounded 4% last week to 210,000 st, up from 202,000 st. Southern mills increased production 2.2% to 556,000 st from 544,000 st. Western mills added 1,000 st, or 1.4%, to their weekly output last week, bringing their total to 70,000 st.

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Great Lakes mills reduced steel production by 2.1% to 639,000 st from 653,000 st. Midwest mills decreased their output by 1,000 st, or 0.6%, to 157,000 st last week.

The AISI determines its weekly raw steel production data based on weekly data from 50% of the domestic industry and estimates the rest using monthly production data.

 

Source : platts.com

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