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Four domestic steel industry associations and the United Steelworkers urged Joe Biden to keep steel tariffs in place in advance of his inauguration. The American Iron and Steel Institute, Steel Manufacturers Association, Committee on Pipe and Tube Imports and American Institute of Steel Construction joined the labor union in the plea to the new president.
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World crude steel production for the 64 countries reporting to the World Steel Association was 158.3 million metric tons in November, a 6.6 percent increase compared with the same month in 2019. Global production for the year to date of 1.7 billion tons remained down 1.3 percent.
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Metalforming companies are somewhat optimistic they’ll see an inprovement in activity during the next three months, according to the December 2020 Precision Metalforming Association Business Conditions Report. Prepared monthly, the report provides an economic indicator for manufacturing, sampling 111 metalforming companies in the United States and Canada.
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The American Iron and Steel Industry applauded the inclusion of two infrastructure items in the most recent COVID-19 relief bill. The bill, passed by both houses of Congress, includes provisions for surface transportation and water infrastructure.
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Katherine Tai has been appointed by President-Elect Joe Biden to become the U.S. Trade Representative. She has previously served at the Office of the USTR and on Capitol Hill.
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Hundreds of U.S. trade organizations are petitioning the United States Congress to address a tax issue in the Paycheck Protection Program. A letter co-signed by the organizations, sent to Speaker of the House Nancy Pelosi and Senate Majority Leader Mitch McConnell, among others, relates to a technical correction to the treatment of loan forgiveness.
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The board of directors of the American Iron and Steel Institute have named Kevin Dempsey as president and CEO of the AISI. Dempsey had been serving as interim president and CEO since June when he was appointed to succeed Thomas J. Gibson. Prior to that appointment, Dempsey had served as AISI’s senior vice president for public policy and general counsel since 2009.
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Economic activity in the manufacturing sector continued to grow in November, reports the Institute for Supply Management in its latest Manufacturing Report on Business. The November PMI was 57.5, down from 59.3 percent in October but still representing healthy growth.
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World crude steel production for the 64 countries reporting to the Brussels-based World Steel Association was 161.9 million metric tons in October, a 7 percent increase compared with the same month in 2019. Through 10 months, global production remained down 2 percent at 1.5 billion tons.
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The U.S. imported 1.5 million tons of steel in October, including 1.2 million tons of finished steel, the American Iron and Steel Institute reported. Net tons were up 19.6 percent compared with September, while finished steel imports increased 6.6 percent compared with the prior month.
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