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

US raw steel production increased by 0.4pc to 1.788mn nt (1.62mn mt) from 1.781mn nt last week with a capacity utilization rate of 78.7pc for the week ended May 1, 2021, according to the American Iron and Steel Institute (AISI).


Compared to the same week last year, steel output rose by 44.4pc from 1.24mn nt and capacity utilization moved up from 55.2pc. Production grew by 4pc to 30.32mn nt between Jan 1 and May 1 from 29.14mn nt during the same timeframe last year. 


The capacity utilization rate stood at 77.4pc through May 1 compared to 73.6pc during the same period in 2020. Total capacity fell by 430,000nt annually for the week ended May 1. 


Regionally, compared to the same week a year ago, production increases occurred in the North East with output up by 46.8pc to 160,000nt, output in the Great Lakes rose by 53.62pc to 616,000nt, production in the Midwest was up by 52.9pc to 185,000nt, the South rose 58.8pc to 756,000nt and the West’s output increased 91.9pc to 71,000nt.


Compared to the previous week production decreased in the North East and the Midwest by 3.75pc and 2.16pc from 166,000nt and 189,000nt, respectively. Output rose in the South and the Great Lakes by 1.61pc and 2.16pc from 744,000nt and 756,000nt, respectively, and was unchanged from last week in the West.


The estimated 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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