US weekly crude steel production increased y-o-y

US weekly crude steel production increased by 1.0% y-o-y. In the week ending August the 31st, the US produced a total of 1,760,000 net tons of crude steel, with a capacity utilization rate of 79.2%. This was an increase compared to 1,742,000 net tons and a capacity utilization rate of 76.6% in the same week of the previous year.

In addition to the y-o-y increase, a slight decline was observed on a weekly basis. In the week ending August the 31st, production decreased by 1.2% from 1,782,000 net tons to 1,760,000 net tons and the capacity utilization rate dropped from 80.2% to 79.2% compared to the previous week ending August 24.

Year-to-date figures to August 31 show total crude steel production of 59,338,000 net tons and a capacity utilization rate of 76.6%. However, this marked a 2.0% decline compared to 60,560,000 net tons and a capacity utilization rate of 77.2% produced in the same period in 2023.