U.S. weekly crude steel production sees yearly decline, slight weekly increase

In the week ending October 19, U.S. crude steel production totaled 1,631,000 net tons, representing a 2,0% decrease compared to the same period in 2023, when production stood at 1,664,000 net tons. The capability utilization rate for the week was 73,4%, slightly higher than the 72,4% recorded during the same week in the previous year.

Despite the yearly decline, week-over-week production saw a slight increase. For the week ending October 12, production was 1,620,000 net tons, with a capability utilization rate of 72,9%. This marks a 0,7% increase in production for the week ending October 19.

Year-to-date production through October 19, totaled 71,069,000 net tons, with a capability utilization rate of 76,4%. This marks a 1,8% decline compared to the same period in 2023, when total production was 72,337,000 net tons, although the capability utilization rate remained unchanged at 76,4%.