US Steel Prices May Benefit from Low-Carbon Demand
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Update time : 2022-10-10 21:18:31
The Biden-Harris Administration today announced that they would "prioritize the purchase of key low-carbon construction materials, covering 98% of materials purchased by the Federal government."
The Biden-Harris Administration today announced that they would "prioritize the purchase of key low carbon construction materials, covering 98% of materials purchased by the Federal government." As steel plants shutter around the world, this is a boon to U.S. manufacturers concerned about dropping steel prices
The announcement highlights the latest section of the "Buy Clean" initiative, which is backed by multiple domestic steel producers. Among the most notable supporters are Cleveland-Cliffs out of
Toledo, Ohio, Nucor Corp., and Steel Dynamics. According to Kevin Dempsey, President and CEO of American Iron and Steel Institute, the move heavily prioritizes American-made steel. "Of the major steel-producing countries, the U.S. has the lowest C02 emissions per ton of steel produced," Dempsey said. "We're pleased the administration continues to recognize that the American steel industry is leading the way on decarbonization."
