This morning in metals news: U.S. import prices declined by 0.4% in August; the Energy Information Administration surveyed the disruption to electricity customers as a result of Hurricane Ida; and, lastly, the European Steel Association commented on the European Union’s proposed Green Deal.
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US import prices fall
Running against the recent trend, U.S. import prices fell by 0.4%, the Bureau of Labor Statistics reported.
Import prices had jumped by 0.4% in July and 1.1% in June.
“The August downturn was led by lower fuel and nonfuel prices,” the BLS reported. “In contrast, prices for U.S. exports advanced 0.4 percent in August, after increasing 1.1 percent in July.”
Hurricane Ida impact on electricity customers
After Hurricane Ida made landfall in New Orleans in late August, many were left without power.
According to the Energy Information Administration, the storm caused at least 1.2 million electricity customers to lose power. The outages spread out over eight states.