This Morning in Metals: Officials break ground for AM/NS Calvert expansion project

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This morning in metals news: officials held a groundbreaking ceremony at the AM/NS Calvert mill earlier this month; President Joe Biden is expected to sign an executive order that calls for assessments of several critical supply chains; and US housing starts fell in January.

AM/NS Calvert officials hail expansion project

Officials celebrated the imminent expansion project at the AM/NS Calvert mill in Alabama with a groundbreaking ceremony earlier this month, al.com reported.

The Alabama mill is a 50/50 joint venture of ArcelorMittal and Nippon Steel. In December, ArcelorMittal completed the sale of most of its North American assets to Cleveland-Cliffs.

However, the AM/NS Calvert mill is one of the few assets not included in the sale.

Last August, ArcelorMittal announced its intention to build an electric arc furnace at the mill.

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Biden to sign executive order for supply chain assessments

President Joe Biden will sign an executive order calling for assessments of various US supply chains, Yahoo News reported.

The order will call for assessments of supply chains for semiconductors, medical supplies, rare earths and electric car batteries.

To date, Biden has signed 31 executive orders, including orders laying out his vision for the climate crisis and development of a clean energy economy.

Speaking of supply chains and semiconductors, last week we noted General Motors announced it would extend downtimes at several facilities due to semiconductor shortages.

Housing starts down in January

US privately owned housing starts reached a seasonally adjusted annual rate of 1.58 million in January, the Census Bureau and Department of Housing and Urban Development reported.

The rate marked a 6.0% decline from December 2020. Furthermore, the rate marked a 2.3% decline from January 2020.

In addition, single-family housing starts in January fell 12.2% from the previous month to a rate of 1.16 million. Meanwhile, the January rate for units in buildings with five units or more reached 402,000.

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