Source: Jeff Yoders/MetalMiner
U.S. infrastructure was given a near-failing grade of D+ by the American Society of Civil Engineers (ASCE) yesterday, the largest trade association of the civil engineering profession in the U.S. This was the second time in two reports that our national roads, bridges, railways, airports, dams and other infrastructure sites barely avoided the dreaded F. The criticism could give momentum to President Donald Trump’s vow of a $1 trillion investment to rebuild everything from roads to dams.
The D+ grade from the American Society of Civil Engineers‘ (ASCE) is unchanged from its last report card in 2013, suggesting that only minor progress had been made in improving public works.
The ASCE estimated in a statement that the United States needed to invest $4.59 trillion by 2025 to bring its infrastructure to an adequate B- grade, a figure about $2 trillion higher than current funding levels.
Chinese Steel Exports Plummet
Chinese steel exports tumbled to a three-year low in February, customs data showed on Wednesday, lower than expectations, as steelmakers in the world’s top producer shifted to meeting rising demand at home.
Shipments for the month were 5.75 million metric tons, the lowest since February 2014, data from the General Administration of Customs showed. It was down 29.1% from a year ago and down 22.5% from January.