EPA’s new rules could hurt steelmakers
Jun 02, 2014 | 05:52 PM
| Michael Cowden
CHICAGO New U.S. regulations aimed at curbing pollution from power plants could drive up metals prices and the cost of goods made from metals, according to industry analysts and trade associations.
The new rules, announced June 2 by the Environmental Protection Agency, could lead to higher natural gas and electricity costs, which in turn could force metals producers and their downstream customersincluding automakersto attempt to pass higher raw materials costs on to end-users, they said.
The new regulations are also a blow to the domestic coal industry, a big consumer of steel, analysts said.
Such warnings come as the EPA looks to slash carbon emissions from existing power plants, which according to the agency are the biggest source of pollution in the United States. The EPA wants to cut carbon emissions from the power sector by 30 percent from 2005 levels, it said June 2.....
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