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

US crude steel production rose by 0.6pc to 1.33mn nt (1.20mn mt) with capacity utilization of 53.3pc for the week ended August 1, 2020, according to the American Iron and Steel Institute (AISI). 


Production is now slowing down with growth dropping below 1pc from a peak of 1.7pc in the week ended July 11, 2020. However, capacity utilization continues to rise each week since its low point in May when it was at 51pc. The current data reflects a 20pc dip in capacity utilization and a 28.1pc decrease in production from 1.84mn nt during the same week in 2019. 


Year-to-date, production trails by 19.9pc at 46.1mn nt compared to 57.6mn nt from the same period in the prior year. Total capacity declined by 1.5mn nt for the week ended August 1, 2020, compared with the same period last year.


Regionally, compared to the same week a year ago, production in the Northeast declined by 58.9pc to 134,000nt followed by the Great Lakes where output declined by 51.2pc to 462,000nt. Production in the Midwest decreased by 44.1pc to 145,000nt, was down 36.3pc in the South at 515,000nt and fell by 2.7pc in the West to 72,000nt.


As compared to the prior week, most regions saw an increase in production, barring the Great Lakes where output dipped 1.9pc from 471,000nt to 462,000nt followed by the South, which saw a decrease of 1.7pc from 524,000nt to 515,000nt.


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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