Steel Markets
UAW Issues Strike Notice to FCA
Written by Sandy Williams
October 6, 2015
The UAW issued a strike notice today to Fiat Chrysler. The notice from UAW Chrysler VP and Director Norwood Jewell gave a deadline of 11:59 p.m. Wednesday, Oct. 7, for cancellation of the current hour-by-hour contract extension.
“FCA US confirms that it has received strike notification from the UAW,” said Fiat Chrysler in a statement Tuesday. “The company continues to work with the UAW in a constructive manner to reach a new agreement.
It is unclear yet whether a potential strike would target specific plants or be issued against all of FCA. It could also be a strategy to put pressure on negotiations at FCA.
The notice came five days after workers rejected a four-year contract with FCA.
In UAW update on Oct. 5 to the membership, UAW President Dennis Williams said, “You have spoken and we heard you.” He warned members to beware of outside groups trying to “stir people up.”
“You, our members need to make decisions based on what’s best for you and your families. No one else has to pay the price of a strike. No one else will lose a paycheck or a home.”
Williams added that committee would continue to bargain and be more forthcoming with details.
“We are also going to tell the whole story. This is a very serious situation. I ask that you get the facts as we continue to address your issues.”
Kristin Dziczek, director of the Labor and Industry Group for the Center for Automotive Research in Ann Arbor, said in the Detroit News, “The strike is the ultimate weapon the union has.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
USW cheers Evraz NA agreement with Atlas Holdings
The United Steelworkers (USW) labor union celebrated recent news of the signed agreement between Atlas Holdings and Evraz NA in which the Connecticut-based private equity company said it plans to acquire North America’s Evraz facilities.
Steel buyer spirits tempered by soft spot market conditions
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.
Hot-rolled coil buyers continue seeking certainty
Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored.
Latin American steel advocates warn on cheap import flood
Subsidized Chinese steel imports and cheap steel products from Association of Southeast Asian Nations (ASEAN) entering Latin American (LATAM) are threatening the region's steel market.
CRU: Steel prices fall amid global demand weakness
The forceful headwinds bearing down on steel markets across the globe have created demand challenges and sent prices southward. The US, however, challenged the global trend.