This Morning in Metals: Biden signs executive order aimed at boosting federal procurement of U.S.-made products

by on
executive order

hafakot/Adobe Stock

This morning in metals news: President Joe Biden on Monday signed an executive order aimed at boosting U.S. manufacturing; the U.S. steel sector’s capacity utilization rate during the week ending Jan. 23 reached 75.7%; and the Energy Information Administration expects energy-related carbon dioxide emissions to tick back up once again in 2021 and 2022 after declining in 2020.

Biden signs executive order to boost federal procurement of U.S.-made goods

President Joe Biden on Monday signed an executive order that aims to boost U.S. manufacturing by increasing federal procurement of U.S.-made materials.

“‘Made in America Laws’ means all statutes, regulations, rules, and Executive Orders relating to Federal financial assistance awards or Federal procurement, including those that refer to ‘Buy America’ or ‘Buy American,’ that require, or provide a preference for, the purchase or acquisition of goods, products, or materials produced in the United States, including iron, steel, and manufactured goods offered in the United States,” the executive order states.

Agencies can, however, seek to acquire waivers for exemption from the laws.

“To the extent permitted by law, before granting a waiver in the public interest, the relevant granting agency shall assess whether a significant portion of the cost advantage of a foreign-sourced product is the result of the use of dumped steel, iron, or manufactured goods or the use of injuriously subsidized steel, iron, or manufactured goods,” Section 5 of the executive order states. “The granting agency may consult with the International Trade Administration in making this assessment if the granting agency deems such consultation to be helpful.”

A director will lead the so-called Made in America Office. Furthermore, the director of the Office of Budget and Management will appoint the director of the Made in America Office.

Become part of the MetalMiner LinkedIn group and stay connected to trends we’re watching and interesting metal facts.

Steel capacity utilization hits 75.7%

Speaking of the executive order and U.S.-made products, the U.S. steel sector’s capacity utilization rate for the week ending Jan. 23 hit 75.7%, down from 76.7% the previous week, the American Iron and Steel Institute reported.

Meanwhile, output during the week totaled 1.72 million tons, or down 1.2% from the previous week. Furthermore, output decreased 9.9% year over year.

 CO2 emissions to rise in 2021, 2022

Per the Energy Information Administration, energy-related carbon dioxide emissions in the U.S. will likely increase this year and next after declining in 2020.

“Economic growth and the lessening of pandemic-related restrictions result in more energy consumption and associated CO2 emissions,” the EIA reported. “EIA expects total energy-related CO2 emissions to increase to 4.8 billion metric tons in 2021 and 4.9 billion metric tons in 2022.”

Volatility is the name of the game. Do you have a steel buying strategy that can handle the ups and downs?

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.