US weekly crude steel production experiences slight yearly decline

The latest report from the American Iron and Steel Institute (AISI) reveals a modest decrease in U.S. crude steel production. For the week ending June 29, 2024, production amounted to 1,721,000 tonnes, with facilities operating at a capacity utilization rate of 77.5%. This marks a slight reduction from the corresponding week in the previous year, where production stood at 1,738,000 tonnes, albeit with a nearly identical capacity utilization rate of 77.3%.

The data indicates a year-over-year decline of 1% in steel production. Production figures for the week ending June 22, 2024, were slightly lower at 1,710,000 tonnes, with a capacity utilization of 77%. This represents a week-over-week increase of 0.6%, suggesting a short-term rebound in steel manufacturing output.