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

US crude steel production rose by 2.5pc to 1.41mn nt (1.28mn mt) with a capacity utilization of 63pc for the week ended August 22, 2020, according to the American Iron and Steel Institute (AISI). 


Production has continued growing at a stable rate over the past couple of months. Capacity utilization has also kept rising each week since its nadir in May, when it was at 51pc. Compared to the same week in 2019, production declined by 23.3pc from 1.84mn nt, and capacity utilization decreased by 16.1pc. 


Year-to-date production trailed by 20.3pc at 50.2mn nt compared to 63mn nt from the same week last year. Total capacity declined by 1.80mn nt for the week ended August 15, 2020, compared to the same period in 2019.


Regionally, compared to the same week a year ago, production in the Northeast declined by 50.7pc to 134,000nt, followed by the Great Lakes falling by 41.2pc to 482,000nt. Output in the Midwest decreased by 29.9pc to 157,000nt, and declined by 26.8pc in the South to 567,000nt, while increasing by 1.4pc to 72,000nt in the West. 


Compared to the previous week, most regions saw an increase in production, save for the Midwest where production dipped by 1.2pc from 159,000nt to 157,000nt. 


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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