The US steel industry hit a new 2014 high for capability utilization last week, when raw steel production climbed to 79.8% from 78.7% the week before, according to American Iron and Steel Institute data released Monday. The previous high for this year was 79.1%, hit in the week ended July 12. The latest figure also is the highest level since July of last year.
For the week ended Saturday, US steelmakers produced 1.92 million st, up 1.4% from 1.893 million st in the prior week. The steel industry in the third quarter had the approximate capability to produce 31.6 million st.
In the year-ago week, US mills produced 1.852 million st operating at a 77.3% capability utilization.
Year-to-date steel output edged up 0.3% to 54.55 million st, from 54.39 million st in the same period of 2013.
A surge in southern steel production propelled the national total. Southern mills produced 681,000 st last week, up 4.9% from 649,000 st.
Northeast mills added 1,000 st week on week, reaching 236,000 st last week. Midwest mills made 2,000 st more steel, bringing last week's total to 239,000 st. Western mills produced the same amount of steel last week -- 89,000 st.
The Great Lakes, however, lowered its output by 1.2% to 675,000 st from 683,000 st.
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.
