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

US crude steel production rose by 1.7pc to 1.37mn nt (1.25mn mt) with capacity utilization of 61.5pc for the week ended August 15, 2020, according to the American Iron and Steel Institute (AISI). 


Production growth returned to the same level as the week ended August 1, 2020, while capacity utilization has kept rising every week since its 51pc low in May. Compared to the same week in 2019, output declined by 25.2pc from 1.84mn nt, and capacity utilization fell by 19.2pc. 


Year-to-date production is 20.3pc lower at 48.8mn nt than it was a year ago when output reached 61.2mn nt. Total capacity declined by 1.77mn nt on an annual basis for the week ended August 15, 2020.


Regionally, compared to the same week a year ago, production in the Northeast declined by 51.4pc to 133,000nt, followed by the Great Lakes where output fell by 47.2pc 466,000nt. Output in the Midwest decreased by 19.4pc to 159,000nt, and declined by 28.1pc in the South to 548,000nt, while sliding by 4.2pc in the West to 71,000nt.


Compared to the prior week, the regions’ production increased, save for the Great Lakes, where production dropped by 1pc from 471,000nt to 466,000nt. Output in the West was flat at 71,000nt. 


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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