US steel still in the dumps

Everytime someone mentions that basic industry, specifically the US steel industry, is rebounding, better to check the real statistics. According to the AISI, for the week ended Oct. 8, 2016, domestic raw steel production was 1,585,000 net tons while the capability utilization rate was 66.8%, or town 2.7% from the same 2015 period when production was 1,629,000 net tons while the capability utilization was 68.1%.  Production for the week ended October 8, 2016 is down 1.6% from the previous week ending October 1, 2016 when production was 1,611,000 net tons and the rate of capability utilization was 68.9 percent. Adjusted year-to-date production through October 8, 2016 was 68,763,000 net tons, at a capability utilization rate of 71.7%. That is down 1.9% from the 70,063,000 net tons during the same period last year, when the capability utilization rate was 71.7%.

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