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This morning in metals information: US power consumption fell by 7% in 2020; the United Steelworkers union commented on the small print of President Joe Biden’s American Jobs Plan; and the aluminum value retraced final week.
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US power consumption down 7% in 2020
Amid the impression of the COVID-19 pandemic, US power consumption fell by 7% in 2020, the Vitality Data Administration (EIA) reported.
“Final yr marked the most important annual lower in U.S. power consumption in each share and absolute phrases in our consumption data series that dates back to 1949,” the EIA stated. “A lot of the 2020 lower in power use is attributable to financial responses to the COVID-19 pandemic that started in the US in the course of the spring of 2020.”
USW on American Jobs Plan
As we famous final week, the United Steelworkers union final week introduced a strike at 9 Allegheny Applied sciences Inc. amenities. The transfer might have important ramifications for stainless-steel patrons, ought to it linger.
Elsewhere, USW commented late final week on the president’s introduced American Jobs Plan.
“It’s clear {that a} huge funding to rebuild, improve and restore crucial infrastructure methods has lengthy been obligatory,” USW stated in a launch. “President Biden’s daring plan to put money into transportation, broadband, water and different methods will draw on the merchandise, elements and companies USW members make and provide every day, making staff and their communities the direct beneficiaries of this spending.”
Aluminum value retraces
Whereas nonetheless on a long-term upward trajectory, the aluminum value took a step again final week.
LME three-month aluminum closed final week at $2,236 per metric ton. The metallic had opened final week at $2,285 per metric ton.
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