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

US raw steel production increased by 0.3pc to 1.48mn nt (1.35mn mt) with a capacity utilization rate of 66.6pc for the week ended October 3, 2020, according to the American Iron and Steel Institute (AISI). 


Production has grown at a steady pace after capacity utilization slumped in mid-September, but now it’s inching closer towards the pre-pandemic level of around 80pc after hitting a 51pc low during the first week of May. Compared to the same week in 2019, output declined by 17.7pc from 1.80mn nt, and capacity utilization fell by 11.1pc.  


From Jan-Oct 3, production declined by 19.6pc to 59.4mn nt from 73.9mn nt during the same period in 2019. Total capacity declined by 2.23mn nt on an annual basis for the week ended October 3, 2020. 


Regionally, compared to the same week a year ago, production in the North East declined by 46.5pc to 144,000nt; Great Lakes output fell by 24pc to 531,000nt; Output in the Midwest decreased by 16pc to 168,000nt; the South’s production declined by 15.3pc to 575,000nt; the West’s output fell by 13.6pc to 66,000nt. 


Compared to last week, the regions’ production decreased, save for the South, where production fell by 2.6pc to 575,000nt from 590,000nt while the Midwest’s output declined by 10.6pc to 66,000nt over 73,000nt. 


The 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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