U.S. crude steel poduction records 6.6% y-o-y growth despite weekly dip

US witnessed a surge in crude steel production, reaching 1.68 million net tons in the week concluding on December 30. Although there was a 0.8% decrease compared to the previous week, the year-on-year growth stood at an impressive 6.6%.

The capacity utilization rate, a key indicator of the industry's efficiency, was reported at 73.1%. This reflects a slight 0.6% decrease from the preceding week. However, on a broader scale, there is a noteworthy 2.5% increase in the capacity utilization rate compared to the same period last year.

As of the latest data available on December 30, the adjusted year-to-date output stands at 88.73 million net tons, showcasing a subtle 0.2% year-on-year increase. Meanwhile, the capacity utilization rate, which gauges the industry's overall operational efficiency, registers at 75.4%. Despite a 2.1% decrease compared to the previous year, this figure underscores the resilience of the U.S. steel production sector.