The weekly statistics published by the American Iron and Steel Institute (AISI) denotes substantial decline in raw steel output in the latest week ending on May 2, 2020.

The weekly raw steel production totalled 1.144 million net tons at a capability utilization rate of 51.1%. This compares with the production of 1.889 million net tons in the week ending May 2, 2019 at a capability utilization rate of 81.2%. Year-on-year, the production recorded substantial decline by 39.4%. Also, the production was down modestly by 8.5% from the prior week, when production had totalled 1.250 million net tons at a capability utilization rate of 55.8%, AISI report said.

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The production by Southern region topped 476,000 net tons, closely followed by Great Lakes, whose production totalled 401,000 net tons. Midwest and North East production totalled 121,000 net tons and 109,000 net tons respectively. Meantime, Western region accounted for 37,000 net tons of crude steel production.

The adjusted cumulative year-to-date production through May 2, 2020 was 29.655 million net tons. This is significantly lower by 11.0% from the corresponding year-to-date period in 2019. The year-to-date production until May 2, 2019 had totalled 33.338 million net tons.