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

US crude steel production rose by 1.7pc to 1.29mn nt (1.17mn mt) with capacity utilization of 57.5pc for the week ended July 11, 2020, according to the American Iron and Steel Institute (AISI). 


Production continues to rise every week since its low point in May where utilization had dropped to 51pc. However, the data reflects a 30.2pc decrease in production from 1.8mn not during the same week in 2019, and a 29.1pc dip in capacity utilization during the same period under comparison. 


Year-to-date production trails by 24pc at 41.9mn nt compared to 52mn nt from the same period in the prior year. Total capacity declined by 1.3mn nt for the week ended July 11, 2020, compared to the same week last year.


Regionally, compared to the same week a year ago, production in the Northeast declined 38.2pc to 141,000nt followed by Great Lakes that dipped by 55pc to 439,000nt. Output in the Midwest decreased by 64pc to 125,000nt, was down 35pc in the South at 523,000nt and fell by 22pc in the West to 61,000nt. 


Compared to the prior week, production increased in all regions barring the South where output declined by 1.7pc from 532,000nt to 523,000nt. 


Crude steel tonnage provided by AISI is compiled from weekly production from 50pc of the domestic producers combined with monthly production data for the remainder.


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