Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The Biden administration has removed brakes on two critical legislation, the US infrastructure bill and Buy American both much-needed to boost the country’s steel and aluminum industries and to create more jobs, noted AISI.


The US Senate voted in favor of admitting the infrastructure bill on Jul 29 after the Biden administration came to a bipartisan consensus on $550bn in spending out of the total $1tn earmarked for this legislation. The Bill includes constructing and revamping the entire public works system and also constructing new transit, water, and other much-needed physical infrastructure. 


US President Joe Biden also pushed the Buy American legislation ahead on Jul 28 to support domestic manufacturing and increase job opportunities.


Both rulings have been applauded by the American Iron and Steel Institute (AISI) with Kevin Dempsey, president and chief executive (CEO) stating that demand for American-made steel is expected to boost the country’s infrastructure plans. 

Dempsey added that the government’s provisions to only use home-produced steel will benefit the environment since it is the most sustainably produced worldwide. 


Tom Dobbins, president, and CEO of the country’s Aluminum Association has also supported the infrastructure bill stating on Thursday that it will make North American manufacturers more competitive. 


Dobbins reiterated the importance of the grey metal in the planned transition toward electric vehicles by 2040. He forecasted growth in aluminum alloys since the government plans to set aside $40bn to build new bridges and overhaul old ones. A $73bn estimated investment in re-modeling the US’ electrical power grids will bring aluminum-made components like solar panels to the forefront. 


Dempsey and Dobbins both concluded that they are expecting President Biden to bring these legislations into enactment in the near term.

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