This morning in metals news: the U.S. consumed a record amount of renewable energy in 2020; U.S. housing starts jumped in May; and the copper price has been on the decline since peaking last month.
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US hits renewable energy consumption record
The U.S. consumed a record amount of renewable energy in 2020, the Energy Information Administration (EIA) reported.
“In 2020, consumption of renewable energy in the United States grew for the fifth year in a row, reaching a record high of 11.6 quadrillion British thermal units (Btu), or 12% of total U.S. energy consumption,” the EIA said. “Renewable energy was the only source of U.S. energy consumption that increased in 2020 from 2019; fossil fuel and nuclear consumption declined.”
Housing starts gain in May
Meanwhile, U.S. housing starts picked up in May from the previous month, the Census Bureau reported.