Steel Markets
GM Announces Layoffs in Lansing and Lordstown
Written by Sandy Williams
November 9, 2016
General Motors announced on Wednesday that it will lay off more than 2000 employees at its Lansing Grand River and Lordstown assembly plants.
GM said it will “align production with demand” as customers continue to shift from cars to crossovers and trucks. The third shift will be suspended indefinitely at both locations beginning in mid-January.
The company will lay off 1,202 hourly and 43 salaried workers at Lordstown which makes the compact Chevrolet Cruze. At the Lansing facility 820 hourly and 29 salaried employees will be affected. Lansing makes the Chevrolet Camaro and Cadillac ATS and CTS luxury cars.
GM also announced investments for future product programs of $667.6 million at Toledo Transmission Operations, $211 million at Lansing Grand River Assembly, and $37 million at Bedford Casting Operations.
Last month, Ford Motor Company announced short-term idles at four of its North American assembly plants.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
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.
Hot-rolled price hikes garner mixed reactions from the market
Several steel market sources say they were blindsided when mills increased spot prices for hot-rolled coils this week.
Steel market participants mull the impact of US/Mexico S232 negotiations
Steel market participants learned that negotiations between the US and Mexico include discussions about Section 232 tariffs on steel and aluminum despite President Trump’s June 3 proclamation increasing the tariffs from 25% to 50% for all steel and aluminum imports—except for those from the UK.
ArcelorMittal plans wire-drawing closure in Hamilton, shifts production to Montreal
ArcelorMittal’s (AM) Hamilton location to be shuttered, wire production shifting to Montreal.
Tariffs, ample domestic supply cause importers to shift or cancel HR import orders
Subdued demand is causing importers to cancel hot-rolled (HR) coil orders and renegotiate the terms of shipments currently enroute to the US, importers say. An executive for a large overseas mill said customers might find it difficult to justify making imports buys after US President Donald Trump doubled the 25% Section 232 tariff on imported steel […]