Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US raw steel production increased by 0.4pc to 1.58mn nt (1.44mn mt) with a capacity utilization rate of 71.1pc for the week ended November 14, 2020, according to the American Iron and Steel Institute (AISI).  

 

The US took three months to breach the 70pc utilization barrier after reaching 60pc capacity utilization in the second week of August. Since then, crude steel production in the US has plateaued around this mark, inching slightly higher every week.

 

Compared to the same week in 2019, output declined by 13.3pc from 1.82mn nt, and capacity utilization fell by 7.4pc. Year to date until Nov 14, production declined by 18.7pc to 68.9mn nt from 84.8mn nt during the same period last year. The country’s total steelmaking capacity declined by 2.92mn nt on an annual basis for the week ended November 14, 2020.   

 

Regionally, compared to the same week a year ago, production in the North East declined by 42.7pc to 147,000nt; Great Lakes’ output fell by 20pc to 556,000nt; Midwest trended sideways at 177,000nt; the South’s production declined by 16pc to 627,000nt; the West’s output fell by 4.1pc to 73,000nt. 

 

Compared to last week, the regions’ production decreased, save for the Great Lakes, where output rose by 2.2pc to 556,000nt from 544,000nt. The Midwest also saw a 9.2pc uptick in production to 177,000nt from 162,000nt. 

 

The crude steel tonnage provided by AISI is compiled by combining weekly production figures from 50pc of domestic producers and monthly production data. 

Leave a Reply

Your email address will not be published.