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

US crude steel production grew by 3.3pc to 1.43mn nt (1.29mn mt) with capacity utilization of 63.7pc for the week ended Sept 5, 2020, according to the American Iron and Steel Institute (AISI).  


Production rebounded to levels similar to those seen during the week ended August 22, inching closer to pre-pandemic levels after hitting a low of 51pc low in the first week of May. Compared to the same week in 2019, output declined by 21.2pc from 1.81mn nt, and capacity utilization fell by 14.3pc.  


Year-to-date production was 20.2pc lower at 53.3mn nt than it was a year ago when output reached 66.7mn nt. Total capacity declined by 1.95mn nt on an annual basis for the week ended Sept 5, 2020. 


Regionally, compared to the same week a year ago, production in the Northeast declined by 55pc to 138,000nt, followed by the Great Lakes where output fell by 36.3pc to 503,000nt. Output in the Midwest decreased by 21pc to 157,000nt, and declined by 25.7pc in the South to 556,000nt, while falling by 1.3pc in the West to 72,000nt. 


Compared to the prior week, the regions’ production increased, save for the Midwest and West, where production decreased by 3.1pc from 162,000nt to 157,000nt and 2.7pc to 72,000nt over 74,000nt, respectively. 


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

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