Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/0f236b121fbb1e89527590be00bf73ec.jpg)
UAW Ratifies Nexteer Automotive Agreement
Written by Sandy Williams
December 19, 2015
The UAW has ratified a new contract with Nexteer Automotive after rejecting a first tentative agreement just two weeks ago. The ratification averted another possible strike by the membership.
UAW Local 699, representing 3,200 workers at Nexteer, reported that 64.2 percent of voting members supported the new contract.
Changes from the original agreement include increasing the signing bonus by $500 to $2000, higher hourly wages, no cost health care and better wages for forced overtime. The agreement was also lengthened from four years to five.
“Our employees have ratified a new labor contract that establishes the principles upon which we will conduct our Saginaw manufacturing operations for the next four and a half years,” said Nexteer Vice President and Chief Human Resource Officer Mark Decker. “Nexteer is committed to continue to work diligently to optimize our global cost structure, continue to grow our customer base and strengthen our technology leadership in the global automotive market.”
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/sandy-williams.jpeg)
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/GrafTech.jpg)
GrafTech’s Q2 loss widens in ‘challenging’ business environment
GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Poor steel margins continue to push down raw material prices
Both iron ore and coking coal prices fell this week because of resistance from buyers. Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/06/canacero-logo.png)
Op-Ed: The myth of the Mexican steel surge
We have heard ominous warnings about a flood of Mexican steel threatening the US market. It's the kind of rhetoric that gets thrown around often with little regard for the facts. The reality is that the Mexican steel surge is simply not happening, and the US steel industry has consistently maintained a significant trade surplus in finished products with Mexico. In 2023 alone, this surplus exceeded $3 billion.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/graph_up_arrow.png)
Influx of coated products fuels recent import surge
Steel imports fell back in May from April’s recent high but remained elevated compared to the levels seen over the past year. A deeper dive into the data confirms what SMU has been hearing from sources: Coated sheet is driving the recent rise in overall import levels.