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

US crude steel production rose by 1.7pc to 1.277mn nt with a capability utilization rate at 57pc, compared to last week but slipped by 32.5pc compared to the same period a year ago, according to the American Iron and Steel Institute (AISI) data. 


Last week’s capacity utilization was 56.1pc while in the same week a year ago, US mills were producing above the 80pc industry threshold at 81.3pc, AISI noted. Capacity rates below 60pc were last encountered in September 2009. Moreover, the total theoretical capacity in the current week stood at approximately 36.03mn nt, down 235,000nt compared to the total capacity estimated in the same period last year.

Adjusted year-to-date, America’s steel production through April 18, 2020 was 27.6mn nt, at a utilization rate of 76.6pc, down by 6.6pc from the 29.557mn nt produced during the same period last year, when the utilization rate was 81.5pc. 

During the week, the Northeast regained some tonnage by increasing 11.5pc to 116,000nt compared to the previous week. The Western region also increased by 25pc to 55,000nt but remained at only 4.3pc of total US crude steel production. 


Production in the Great Lakes region increased by 3pc to 443,000nt and Midwest increased by 2pc to 124,000nt. The South was the only region to report a decline of 3pc to 539,000nt. The South led US production at 42.2pc of total, followed by Great Lakes at 34.7pc, Midwest at 9.7pc, and Northeast at 9.1pc. 



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