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

US crude steel production dipped by 1.3pc to 1.6mn nt (1.7mn mt) at a capacity utilization of 70.6pc in the week ending November 28, 2020, according to the American Iron and Steel Institute (AISI). Capacity utilization dropped by 0.9 basis points after achieving 71.5pc the prior week. 


The week’s production fell by 14.4pc against the same week in 2019 and capacity utilization dropped by 8.2pc compared to 78.8pc capacity utilization in the same week last year. 


Between January and Nov 24 weekly production averaged at 72.2mn nt with capacity utilization of 67.2pc, down 18.4pc against 88.4mn nt and 80pc capacity utilization a year ago. 


Production in the Northeast fell by 5.1pc against the prior week to 129,000nt, the Midwest dropped by 4.7pc to 162,000nt, and the South declined by 1.5pc to 655,000nt, against the previous week due to the Thanksgiving holiday and aligned maintenance schedules. The Great Lakes, though, increased production by 1.5pc to 549,000nt compared to the previous week. 


Regionally, the South comprised 42pc of US crude steel production followed by the Great Lakes at 35.2pc, together totaling 77.2pc. Midwest followed at 10.4pc, the Northeast at 8.3pc, and the West at 4pc. 


Compared to the same week a year ago, the South was the least affected as production decreased by 6.3pc. The Great Lakes slipped by 13.5pc, Midwest by 20.2pc, and the Northeast by 40pc against the same week in 2019.

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