This Morning in Metals: Senate to vote on $2 trillion stimulus package

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This morning in metals news, the U.S. Senate is prepared to vote on a $2 trillion stimulus package Wednesday, U.S. steel imports are down 21% and U.S. Steel is idling its Lorain tubular plant.

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Senate to vote on $2T stimulus package

As the coronavirus outbreak and its rising transmission in the U.S. takes hold, cries for government assistance for Americans and the economy at large have grown.

After lengthy talks about the form of a potential stimulus deal, carried through under H.R.748, the Senate in the early hours of Wednesday reached an agreement on a $2 trillion package, CNN reported.

The Senate is scheduled to convene and resume consideration of the stimulus package for a vote at noon today.

U.S. steel imports down 21%

U.S. imports of steel through the first two months of the year were down 21%, the American Iron and Steel Institute (AISI) reported.

Finished steel import market share clocked in at 15% in February, according to AISI.

U.S. Steel to idle Lorain plant

The Chronicle-Telegram reported U.S. Steel will idle its Lorain Tubular Operations plant in Lorain, Ohio.

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According to the report, the closing will impact 250 workers at the Lorain plant.

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