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

US crude steel production rose by 1.1pc to 1.32mn nt (1.19mn mt) with capacity utilization of 58.9pc for the week ended July 25, 2020, according to the American Iron and Steel Institute (AISI). 


Production continues to rise each week since its low point in May where utilization had dropped to 51pc. A 28.5pc decrease in production is reflected from 1.8mn nt, in the same week in 2019, along with a 20.5pc dip in capacity utilization. 


Year-to-date, production trails by 20pc at 44.6mn nt compared to 55.7mn nt from the same period in the prior year. Total capacity declined by 1.49mn nt for the week ended July 25, 2020, compared with the period in the previous year.


Regionally, compared to the same week a year ago, production in the Northeast declined 61.6pc to 133,000nt followed by Great Lakes where output dipped by 52.6pc to 471,000nt. Production in the Midwest decreased by 49.6pc to 129,000nt, was down by 31pc in the South at 524,000nt and fell by 12pc in the West to 63,000nt.


Compared to the prior week, most regions saw a decrease in production, barring Great Lakes where output rose by 4.6pc from 450,000nt to 471,000nt followed by the South, which saw an increase of 0.5pc from 521,000nt to 524,000nt.


For the second quarter of 2020, total capacity fell 4pc to 29.1mn nt from 30.3mn nt in Q2 of 2019.


Crude steel tonnage provided by AISI is compiled from weekly production from 50pc of the domestic producers combined with monthly production data for the remainder.

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