U.S. weekly crude steel production experienced an increase of 2.3% y-o-y in the week ending August 24. During this period, the United States produced 1,782,000 net tons of crude steel, achieving a capability utilization rate of 80.2%. This marks an improvement from the same week in the previous year, where production totaled 1,742,000 net tons, and the capability utilization rate was 76.6%.
In addition to the y-o-y increase, there was also a week-to-week growth in crude steel production. The production for the week ending August 24, increased by 1.6% compared to the previous week, which ended on August 17. During that earlier week, the U.S. produced 1,754,000 net tons of crude steel, with a capability utilization rate of 79.0%.
Year-to-date figures through August 24, indicate a total crude steel production of 57,692,000 net tons, with a capability utilization rate of 76.7%. However, this represents a slight decline of 1.9% compared to the 58,818,000 net tons produced during the same period in 2023, when the capability utilization rate was slightly higher at 77.2%.
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