The American Iron and Steel Institute reports that steel production is up 2.5% for the week ending August 22 over the previous week.
Last week, domestic raw steel production was 1,412,000 net tons while the capability utilization rate was 63.0%. The same week in 2019 saw the production at 1,841,000 net tons and a capability utilization rate of 79.1%. While these numbers still lag behind those of the previous year, production is up from the 1,377,000 net tons produced in the week ending August 15 when the rate of capability utilization was 61.5%