This Morning in Metals: USITC maintains duties on rebar from Mexico, Turkey
This morning in metals news: the USITC voted to maintain existing duties on steel rebar from Mexico and Turkey; the U.S. Census Bureau released the latest housing starts data; and General Motors released more information on its next-generation electric vehicle models.
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USITC maintains rebar duties on Mexico, Turkey
The United States International Trade Commission this week voted to maintain existing anti-dumping and countervailing duties on steel rebar from Mexico and Turkey.
In its five-year sunset review, the USITC determined revoking the duties would likely lead to material injury “within a reasonably foreseeable time.”
August housing starts fall 5.1%
New housing starts in August fell 5.1% from the previous month, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
Privately owned housing starts came in at a seasonally adjusted annual rate of 1,416,000 in August. The August total, however, marked a 2.8% year-over-year increase.
GM touts Ultium Drive
With Detroit automaker GM transitioning toward an electrified world, the automaker said Wednesday that “Ultium Drive” will power its future.
“General Motors’ next-generation EVs are expected to be powered by a family of five interchangeable drive units and three motors, known collectively as ‘Ultium Drive,'” the automaker said in a release.
Furthermore, Ultium Drive will help the company transition its current portfolio to “a fully electric lineup,” GM said.
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