This Morning in Metals: U.S. steel capacity utilization rises to 83.0%

This morning in metals news: U.S. steel capacity utilization rose to 83.0% last week; meanwhile, the U.S. Department of Commerce is now requiring and collecting aluminum import licenses; and, lastly, General Motors said it will source U.S.-based lithium.
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Steel capacity utilization reaches 83.0%

hot rolled steel
niteenrk/Adobe Stock

The U.S. steel capacity utilization rate reached 83.0% last week, the American Iron and Steel Institute reported.
Steel production during the week totaled 1,842,000 net tons. The output marked an increase of 0.4% from the previous week and a 41.0% jump year over year.
Furthermore, output in the year to date reached 46,896,000 net tons at a steel capacity utilization rate of 79.0%.

DOC to collect aluminum import licenses

As part of the Aluminum Import Monitoring system, the Department of Commerce recently announced it began requiring and collecting aluminum import licenses as of June 28.

“As part of the rule, aluminum importers will now be required to register and obtain a license through the International Trade Administration’s Aluminum Import Monitoring (AIM) portal,” the Department of Commerce said. “The licenses are free and automatic and require importers to provide information on volume, value, expected date of importation, HTS code, and country of origin of the covered aluminum as well as to identify the country where the aluminum used in the manufacture of the imported product was most recently cast.”

GM to source ‘U.S.-based lithium’

General Motors said it plans to source lithium from the U.S. for its next-generation electric vehicle batteries.
“General Motors has agreed to form a strategic investment and commercial collaboration with Controlled Thermal Resources to secure local and low-cost lithium,” the automaker said.
The lithium supply will come from “a closed-loop, direct extraction process” that yields a smaller physical footprint, no production tailing and lower carbon dioxide emissions when compared to traditional processes like pit mining or evaporation ponds, GM said.
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