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This Morning in Metals: U.S. steel imports plunge in February

Agmetalminer - This morning in metals news, the U.S.’s steel import levels were down by nearly half in February, Norsk Hydro’s Albras aluminum plant in Brazil recently experienced a power failure and General Motors recently revealed new developments in its overall electric vehicle (EV) strategy.

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Steel import levels drop in February
U.S. imports of steel dropped by 47.5% in February, the Times of Northwest Indiana reported.

Import permit applications for February fell to 1.82 million tons, according to the report.

Hydro’s Albras plant hit with power outage
Norsk Hydro last week reported a power failure at its part-owned Albras aluminum plant in Brazil led to the shutdown of 25% of its capacity.

One of four production lines at the plant was shut down after a fire impacted an electrical transformer. The plant, in which Hydro has a 51% stake, has an annual capacity of 460,000 tons.

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