This Morning in Metals: Chile’s industrial output, copper production fall in February
This morning in metals news: Chile’s INE reported the country’s industrial production, including copper production, fell in February; meanwhile, US automotive sales fell in February; and, lastly, the United States International Trade Commission made duty rulings on imports of silicon metal.
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Chile industrial production falls in February
Chile’s National Statistics Institute (INE) reported the country’s Industrial Production Index fell 3.4% in February.
Furthermore, the Mining Production Index fell by 6.2%. The decline came largely as a result of a drop in copper extraction and processing in February, the INE reported.
US vehicle sales fell in February
US vehicle sales fell to a seasonally adjusted annual rate of 16.1 million units in February, according to US Bureau of Economic Analysis data.
The rate fell from 17.1 million units in January.
The February 2020 rate reached 17.2 million units before plunging to 11.8 million and 9.1 million units the next two months.
USITC rules on silicon metal
The USITC recently determined imports of silicon metal from Bosnia and Herzegovina, Kazakhstan, and Iceland benefited from illegal subsidization and were sold in the US at less than fair value.
The Department of Commerce will issue a countervailing duty order on imports of the metal from Kazakhstan. In addition, it will impose an anti-dumping duty order on imports of the metal from Iceland and Bosnia and Herzegovina.
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