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

US raw steel production increased by 2.2pc to 1.54mn nt (1.40mn mt) with a capacity utilization rate of 69.4pc for the week ended October 17, 2020, according to the American Iron and Steel Institute (AISI).  


The agency forecasted production capacity of 29.1mn nt in Q4 2020, down by 4.4pc from 30.4mn nt for the same period in 2019. 


Compared to the same week in 2019, output declined by 15pc from 1.80mn nt, and capacity utilization fell by 8.6pc. Year-to-date, production has declined by 19.4pc to 62.5mn nt from 77.5mn nt during the same period in 2019. Total capacity declined by 2.57mn nt on an annual basis for the week ended October 17, 2020. 


Regionally, compared to the same week a year ago, production in the North East declined by 43.5pc to 143,000nt; Great Lakes output fell by 26.7pc to 557,000nt; output in the Midwest increased by 5.1pc to 164,000nt; the South’s production declined by 16.3pc to 601,000nt; and the West’s output fell by 7.1pc to 70,000nt. 


Compared to last week, the regions’ production increased, save for the North East, where production fell by 2.7pc to 143,000nt from 147,000nt.


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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