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

US raw steel production increased by 39pc to 1.9mn nt (1.7mn mt) in the week ended Jul 31 from 1.35mn nt in the same week last year while capacity utilization climbed to 85pc from 60.3pc according to the American Iron and Steel Institute (AISI).


Compared to last week, output inched up by 0.4pc from 1.87mn nt and a capacity utilization rate of 84.6pc.


Production increased by 19.1pc between Jan 1 and Jul 31 to 54.6mn nt from 45.8mn nt during the same timeframe last year. The capacity utilization rate stood at 80pc during this timeframe versus 66.7pc during the same period in 2020.


Regionally, compared to the same week a year ago, production increases occurred in all regions with output in the Northeast up by 16pc to 156,000nt, Great Lakes and Midwest rising by 37pc to 632,000nt, and 200,000nt, respectively, South increasing by 58pc to 815,000nt and West increasing by 3pc to 74,000nt.


Compared to last week, production rose in Northeast and South rose from 149,000nt and 802,000nt, respectively. However, output dropped by in the Great Lakes, Midwest, and West regions from 642,000nt, 200,000nt, and 75,000nt, respectively.


The estimated 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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