This Morning in Metals: Changan Ford to manufacture Mach-E in China for local customers

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This morning in metals news: Ford Motor Co. announced Changan Ford will manufacture the new all-electric Mach-E SUV in China for local customers; the U.S.’s monthly deficit declined from November to December; and U.S. steel imports fell by 21% last year.
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Changan Ford to manufacture new Mach-E

Changan Ford will manufacture Ford’s new all-electric SUV, the Mach-E, in China for local customers, Ford announced Thursday.
“A breakthrough vehicle in Ford’s electrification strategy, Mustang Mach-E will set new standards in style and performance in the Chinese high-end EV market when it becomes available in China later this year,” Ford said.
The Mustang Mach-E will boast a range of over 600 kilometers (373 miles).

U.S. trade deficit dips in December

The U.S. posted a trade in goods deficit of $82.5 billion in December, the Census Bureau reported.
Meanwhile, the November trade deficit reached $85.5 billion.

Steel imports fall 21%

In steel trade flows, the U.S.’s imports of steel fell by 21.2% last year, the American Iron and Steel Institute reported.
The U.S. imported 22.0 million net tons in 2020. Furthermore, steel import market share reached 18%.
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