This Morning in Metals: U.S. steel imports down 20% this year
This morning in metals news, U.S. imports of steel were down 20% through the first four months of the year, a primary aluminum production plant in Brazil part-owned by Norsk Hydro is restarting after an earlier power outage and China is importing U.S. copper concentrate after Chinese companies won tariff relief.
U.S. steel imports plunge by one-fifth
U.S. imports of steel through the first four months of 2020 were down by 20% year over year, according to the American Iron and Steel Institute (AISI).
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Steel imports for the four-month period totaled 9.19 million tons.
Albras restarts in Brazil
The Albras primary aluminum plant in Brazil, partially owned by Oslo-based Norsk Hydro, is restarting a production line after operating at 25% capacity following a power outage earlier this year.
“The plant’s three other lines were unaffected and there were no injuries,” Norsk Hydro said in a release. “The production line is expected to be operating at normal capacity during 2020.”
The plant, in which Hydro has a 51% stake, has production capacity of 460,000 tons per year.
U.S. exports copper concentrate to China
According to Reuters, China is importing U.S. copper concentrate after Chinese companies received waivers granting tariff relief.
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In 2018, China announced a 25% tariff on imports of U.S. copper concentrate.
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