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

US crude steel production totaled 1.256mn nt (1.140mn mt) with a capacity utilization rate of 56.1pc for the week ended April 11, 2020, according to the American Iron and Steel Institute (AISI).


The latest production level represents a decline of 18.1pc compared to the previous week, and a 33.6pc decrease from the same period in 2019. The rate of utilization in the industry further decreased by 12.4pc from 68.5pc last week to 56.1pc this week, as a result of weaker demand and stay-at-home orders around the country. A utilization rate of 56pc has not occurred in the US steel sector since 2009.

Adjusted year-to-date production through April 11, 2020 totaled 26.323mn nt at a utilization rate of 77.9pc, which declined by 4.9 percent from 27.665 nt during the same period last year when the capacity utilization rate was 81.5pc.

By percentage, the Northeast had the highest decrease at 46.4pc, as production dropped to 104,000nt this week from 194,000nt last week. The Great Lakes declined by 21.7pc as the region produced 430,000nt compared to 549,000nt last week, followed by the Midwest with a 12.2pc decline to 122,000nt from 139,000nt last week. The South had the smallest production decrease, falling by 7.6pc from 602,000nt last week to 556,000nt, according to the AISI data.


The South contributed 44.3pc of total US crude steel production, followed by the Great Lakes at 33.2pc, the Midwest at 9.7pc, and the Northeast at 8.3pc. The Western region contributed 3.5pc of total US crude steel production, and declined by 12pc to 44,000nt from 50,000nt. 


The crude steel production tonnage provided in this report by theAmerican Iron and Steel Institute (AISI) are estimated. The figures are compiled from weekly tonnage production provided by 50pc of the domestic producers, with the remainder coming from monthly production data.


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