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Biden’s steel deal with Europe faces utilization hurdle

European Union 704 Materials - Metals/Mining 664 Metals - Aluminum 206 Metals - Steel 454 Tariffs 1701 U.S. 4848

U.S. industrial capacity utilization has continued to improve in December, with the average across all industries reaching 74.5% from a trough of 64.2% in April. The metals industry has also seen a significant rebound with iron and steel utilization reaching 74.2% in December compared to a trough of 49.9% in May. That’s still well below the 79.5% level reached in December 2019. It is also below as well as the 80% threshold established by the Trump administration in its section 232 national security review of the industry as being necessary to ensure long-term financial viability. The Bid...

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