US steel industry capability utilization rises to 74.7%

US raw steel output spiked last week, and the industry's capability utilization rate rose to 74.7%, according to American Iron and Steel Institute data released Monday.

In the week ended Saturday, US mills produced 1.748 million of steel, up 2.2% from 1.711 million st the week before. The industry's capability utilization climbed to 74.7% from 73.2%.

Last week's output was up 2.6% from the 1.704 million st made in the same week last year, when the industry was operating at 72.1% of its capability.

Year-to-date steel production was still down 1.4% year on year, and the industry's average capability utilization was 71.5%, comparable to the 71.6% average utilization at the same time last year.

Production increased in all regions except the Northeast, where mills cut production 3.9% to 196,000 st from 204,000 st. Great Lakes mills ramped up production 4.1% to 639,000 st from 614,000 st.

Southern mills boosted production 2.4% to 640,000 st from 625,000 st.

Western mills increased production 3.4% to 91,000 st from 88,000 st.

Midwest production edged up 1.1% to 182,000 st from 180,000 st.

The AISI determines its weekly raw steel production data based on weekly data from 50% of the domestic industry and estimates the rest using monthly production data.