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

US crude steel production rose by 2pc to 1.35mn nt (1.24mn mt) with a capacity utilization rate of 60.2pc for the week ended August 8, 2020, according to the American Iron and Steel Institute (AISI). 


Production surpassed the previous peak of 1.7pc during the week ended July 11, 2020. Capacity utilization has kept rising since a 51pc nadir in May. Compared to the week ended August 10, 2019, output decreased by 37.8pc from 1.87mn nt, while capacity utilization fell by 19.8pc. 


Year-to-date production fell by 25pc to 47.5mn nt from 59.4mn nt during the same week in 2019. Total capacity declined by 1.7mn nt for the week ended August 8, 2020 compared to the same period last year.


Regionally, compared to the same week a year ago, production in the Northeast declined 57.8pc to 128,000nt, followed by the Great Lakes’ 47.3pc decrease to 471,000nt. Output in the Midwest decreased by 34.6pc to 146,000nt, and dropped by 30.8pc in the South to 538,000nt. Production in the West rose by 2.8pc to 71,000nt.


Compared to last week, most regions’ production increased, save for the North East where output fell by 4.8pc to 134,000nt from 128,000nt.


The crude steel tonnage compiled by AISI uses weekly production figures from 50pc of domestic producers and combines it with monthly production data.

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