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

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.