This Morning in Metals: U.S. Steel Imports Down 13.7%

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This morning in metals news, the U.S.’s imports of steel are down 13.7% in the year to date, miner Glencore is partnering with other companies at the World Economic Forum on responsible sourcing and the Aluminum Association supported a bipartisan letter to Congress lobbying for an aluminum import monitoring program.

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Steel Imports Down 13.7%

U.S. imports of steel fell 13.7% through the first nine months of the year, according to the American Iron and Steel Institute (AISI).

The U.S. imported 22.6 million tons during the nine-month period this year.

In September, the U.S. imported 1.9 million tons of steel, down 6.2% compared with the August import total.

Glencore to Partner on Responsible Sourcing

Along with other companies, miner Glencore announced it will work on responsible sourcing initiatives with the World Economic Forum.

Glencore will participate in the Mining and Metals Blockchain Initiative, which will “explore the building of a blockchain platform to address transparency, the track and tracing of materials, the reporting of carbon emissions or increasing efficiency.”

Other companies participating in the initiative are: Antofagasta Minerals, Eurasian Resources Group Sàrl, Klöckner & Co, Minsur SA, Tata Steel Limited and Anglo American/De Beers (Tracr).

Aluminum Association Applauds Letter on Import Monitoring

The Aluminum Association on Thursday applauded a letter sent by members of Congress advocating for an aluminum import monitoring program.

“On behalf of the 162,000 Americans working in aluminum, we appreciate this bipartisan effort to shore up trade enforcement in our sector,” said Joe Quinn, vice president of public affairs at the Aluminum Association, in a release. “An aluminum import monitoring system is a necessary step to ensure that all aluminum producers are operating on a level playing field in a fair, rules-based global trading system.”

The letter, co-authored by the chairs of the Congressional Aluminum Caucus and addressed to Secretary of Commerce Wilbur Ross, cites China’s aluminum production growth.

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“A monitoring program would give the U.S. government — and the aluminum manufacturing sector — new tools to identify trends and trade flows to determine if there is circumvention or evasion of the industry’s AD/CVD orders and to swiftly address illegal activity,” the letter states. “Notably, Canada recently expanded its import monitoring system to include aluminum and aluminum products.”

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