Steel Markets
Nexteer Strike Over In Just One Day
Written by Sandy Williams
December 10, 2015
The Nexteer Automotive strike was called off after just one day. A second tentative agreement was reached on Tuesday night, Dec. 8 and workers at UAW Local 699 were told to resume their scheduled shifts.
The first tentative contract was rejected by an overwhelming majority of workers at the company which produces steering and driveline systems for Detroit and foreign automakers.
UAW Local 699 president Rick Burzynski said, “Everybody stand strong in solidarity. Your voices were heard and the leadership is there for you. We’ve always been there for you.”
The new agreement will be voted on sometime next week and addresses most of the concerns expressed workers regarding wages, benefits and health insurance costs. Highlights of the agreement will be released in the next few day followed by copies of the complete contract.
“We’re going to give them a little more time this time to review everything,” said Burzynski.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
President Trump intends to set additional steel tariffs
While boarding Airforce One on Friday, US President Donald Trump stated that he would be setting more steel tariffs and putting ~100% tariffs on semiconductors and chips.
USS, government officials give update on Clairton Coke Works incident
U.S. Steel, Allegheny County executive Sara Innamorato, and Pennsylvania Gov. Josh Shapiro clarified details from early reports about the Clairton Coke Works facility explosion just one day earlier.
Hot-rolled spot market conditions linger, prices slip
Market participants said they have high hopes that the stable hot-rolled spot market will improve as the year rolls on.
Discontentment brews in plate market with flat, status-quo pricing
Sources in the carbon and alloy steel plate market said they are less discouraged by market uncertainty resulting from tariffs or foreign relations, but are instead, eager to see disruption to the flat pricing environment.
Dodge Momentum Index surges in July
The Dodge Momentum Index (DMI) jumped 20.8% in July and is now up 27% year-to-date, according to the latest data released by Dodge Construction Network.