Steel Markets

UAW/FCA Reach New Agreement Avoiding Strike
Written by Sandy Williams
October 8, 2015
The UAW and FCA have reached a new tentative agreement, avoiding a strike deadline by minutes. The UAW notified members at 11:41 pm Wednesday evening, saying “significant gains” were secured in the new agreement.
“We heard from our members, and went back to FCA to strengthen their contract,” said UAW President Dennis Williams. “We’ve reached a proposed Tentative Agreement that I believe addresses our members’ principal concerns about their jobs and their futures. We have made real gains and I look forward to a full discussion of the terms with our membership.”
“FCA US confirms that it has reached a new tentative agreement with the UAW,” the company said in a statement. “Because the agreement is subject to UAW member ratification, the company cannot discuss the specifics of the agreement pending a vote by UAW members.”
The UAW Chrysler Council, made of local union leaders, will meet Friday at 11 am to discuss and vote on the agreement. If approved, details of the agreement will be released immediately to the membership and the ratification voting will begin.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

Trading firms Mercuria and Tata International partner in joint venture
Geneva-based global commodities trader Mercuria is set to acquire a majority stake in Tata International, according to a report in India's Economic Times.
Glenfarne Alaska LNG and POSCO ink preliminary partnership
Glenfarne Alaska LNG and POSCO signed a preliminary strategic agreement during the GasTech Conference in Milan on Thursday.

Steel export volumes remain weak through July
Following a 3% decline in June, the amount of steel shipped outside of the US edged up 1% in July to 623,000 short tons. July was the sixth-lowest monthly export rate since the COVID-19 pandemic, and...

Hot-rolled market participants say ‘doldrums’ to roll on through year-end
Participants in the hot-rolled steel sheet market expect the market to remain subdued through the end of the year.

Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.