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    Analysis

    November 27, 2018

    GM to Close Five North American Auto Plants in 2019

    Written by Sandy Williams

    General Motors announced Thursday that it will stop production at five North American assembly plants by the end of 2019, alarming workers and suppliers. The closings include Detroit-Hamtramck, Warren Transmission and Lordstown Assembly in Ohio, Oshawa Assembly in Ontario and Baltimore Operations in Maryland. It will be the first closure for GM since 2010.

    The closures will affect 6,300 workers, including 3,330 in the U.S. Last month, GM offered voluntary buyouts to 18,000 salaried workers to meet its goal of eliminating 15 percent of its salaried positions, including 25 percent fewer executives.

    Sandy Williams

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    November scrap prices rise as market nears settle

    November scrap procurement has commenced in the US with buyers divided on the price increases from the previous month. Several mills reportedly sought a rise of $20 per gross ton (gt) while others saw $30/gt as the number. The $30/gt price tag mainly applies to the obsolete grades, like shredded, P&S and #1 HMS, with prime grades pulling up the rear at $20. SMU spoke to a Chicago-based source who said that market was up $30/gt and 20/gt on shredded and busheling, respectively. He also mentioned the integrated mills in this district are after heavier grades like P&S and railroad grades, like wheels. These grades have been in short supply since last summer. Our source believes they commanded prices up $30/gt while busheling was at plus $20.