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

US raw steel production grew by 2.2pc to 1.46mn nt (1.31mn mt) with capacity utilization of 65.1pc for the week ended Sept 12, 2020, according to the American Iron and Steel Institute (AISI).  


Production has grown at a steady pace for weeks, with capacity utilization inching closer to pre-pandemic levels after hitting 51pc nadir during the first week of May. Compared to the same week in 2019, output declined by 19pc from 1.80mn nt, and capacity utilization fell by 12.2pc.  


Year-to-date production declined by 20.1pc to 54.7mn nt from 68.5mn nt during the same period in 2019. Total capacity declined by 2.29mn nt on an annual basis for the week ended Sept 12, 2020. 


Regionally, compared to the same week a year ago, production in the North East declined by 64pc to 122,000nt; Great Lakes output fell by 30.5pc to 530,000nt; Output in the Midwest decreased by 4pc to 172,000nt; the South’s production declined by 18.2pc to 565,000nt; and the West’s output fell by 1.4pc to 70,000nt. 


Compared to last week, the regions’ production increased, save for the North East and West, where production respectively decreased by 13.1pc to 122,000nt from 138,000nt, and by 2.8pc to 72,000nt from 70,000nt. 


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


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