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

US raw steel production increased by 1pc to 1.57mn nt (1.43mn mt) with a capacity utilization rate of 71.1pc for the week ended November 7, 2020, according to the American Iron and Steel Institute (AISI).  


The US took three months to breach the 70pc utilization barrier since it reached 60pc of capacity in the second week of August. However, this week a surge in production was witnessed in the South, which contributed half of the entire volume produced in the US. 


Compared to the same week in 2019, output declined by 13.7pc from 1.82mn nt, and capacity utilization fell by 7.7pc. From January to Nov 7, production has declined by 18.8pc to 67.3mn nt from 82.9mn nt during the same period in 2019. Total capacity declined by 2.87mn nt on an annual basis for the week ended October 24, 2020. 


Regionally, compared to the same week a year ago, production in the North East declined by 22.5pc to 155,000nt; Great Lakes output fell by 24.2pc to 544,000nt; Output in the Midwest fell by 11.2pc to 162,000nt; the South’s production declined by 20pc to 639,000nt; the West’s output fell by 1.3pc to 73,000nt. 


Compared to last week, the regions’ production decreased, save for the South, where production reached pre-pandemic levels from April, increasing by 9.6 to 639,000nt from 583,000mt. 


The 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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