This morning in metals news, domestic raw steel production for the week ending Aug. 11 jumped 5% compared with the same week last year, the U.S. has raked in more than $1.4 billion from its steel and aluminum tariffs, and China’s aluminum production surged in July.
U.S. Raw Steel Production Surges Last Week
According to data released by the American Iron and Steel Institute (AISI), U.S. raw steel production jumped 5% year over year for the week ending Aug. 11.
Production for the week hit 1,855,000 net tons at a capacity utilization rate of 79.1%. Production was also up 1.5% from the previous week ending Aug. 4.
The Trump administration’s tariffs on steel and aluminum have yielded revenue amounting to more than $1.4 billion, according to a recent Congressional report cited by CNBC.
As for the much-criticized tariff exclusion process — many have lamented the slow rate at which the Department of Commerce has processed the requests — as of Aug. 6. the Department of Commerce had received 33,099 requests, approving 1,428 requests and denying 702.
Chinese Primary Aluminum Production Rises
July proved to be a productive month in China for primary aluminum production.
The country saw production surge 12% year over year, according to a Reuters report.
According to the report, citing National Bureau of Statistics data, China produced 2.93 million tons of primary aluminum in July. The output marked a 3.4% increase from the previous month, according to the report.