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

US crude steel production decreased by 2.1pc to 1.38mn nt (1.25mn mt) with capacity utilization of 61.5pc for the week ended August 29, 2020, according to the American Iron and Steel Institute (AISI).  


Production has declined for the first time since May, after a steady weekly increase in capacity utilization since it hit a low of 51pc low four months ago. Compared to the same week in 2019, output declined by 24.9pc from 1.84mn nt, and capacity utilization fell by 17.4pc.  


Year-to-date production is 20.1pc lower at 51.8mn nt than it was a year ago when output reached 64.9mn nt. Total capacity declined by 1.89mn nt on an annual basis for the week ended August 29, 2020, the AISI data indicated. 


Regionally, compared with the same week a year ago, production in the Northeast declined by 54pc to 113,000nt, followed by the Great Lakes where output fell by 40.7pc to 478,000nt. Output in the Midwest decreased by 22pc to 162,000nt, declined in the South by 25.7pc to 556,000nt and climbed in the West by 4.2pc to 74,000nt. 


Compared with the prior week, the regions’ production decreased, save for the Midwest and West, where output increased by 3.2pc from 157,000nt to 162,000nt and by 2.7pc from 72,000nt to 74,000nt, respectively. 


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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