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US steel mills can receive nearly $500 million of corporate loans from government

7 Jul 2020 15:52 reported by Hazel Chen

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Affected by the COVID-19 pneumonia epidemic, the US steel industry was hit hard by the closure of construction sites and manufacturing plants across the country and the city blockade.

According to data released by the US government on Monday, it was expected that nearly 2,000 steel mills and steel product processing plants would be able to obtain at least US$497.7 million in loans related to the pneumonia epidemic under the government's salary protection plan.

In addition to steel mills, manufacturers of primary aluminum, secondary smelting and aluminum alloy, and manufacturers of aluminum sheets, plates, and foils, as well as metal mining companies, could also receive loan subsidies.

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