Steel Markets

GM to Build EV at Michigan Plant Instead of Overseas
Written by Sandy Williams
March 25, 2019
General Motors will build its new electric Chevy at its Orion Township plant in Michigan. The auto manufacturer announced it will invest $300 million at the facility as part of its $1.8 billion investment strategy for the U.S.
The electric vehicle, originally slated for overseas assembly, will add 400 jobs at the plant. CEO Mary Barra said the repatriation of the EV was due to “the rules of origin provisions in the proposed United States, Mexico and Canada Agreement.”
The vehicle will be based on an advanced version of the Chevy Bolt EV already built at Orion. GM hopes to have 20 new zero-emission vehicles in production by 2023.
“These announcements continue something I want to be very, very clear about,” Barra said. “GM is absolutely committed to investing in and growing good-paying manufacturing jobs in the United States — jobs that strengthen us today and will improve our position for the future.”
GM is investing in plants in Romulus and Lansing Delta Township, Mich., and Spring Hill, Tenn., and other announcements will be forthcoming. The company’s investment plans for six states will bring a total of 700 jobs to the U.S.
After attacks by President Donald Trump following GM’s notification that four U.S. plants will be closed by 2020, there has been speculation that the investment in Orion is a direct response to the president’s criticism at the Lordstown plant. A spokesman for the company denied there was a connection, saying the decision had been made weeks ago.
Barra said the “common message” between GM and Trump is that both “believe in a strong U.S. manufacturing base. We want to create jobs — good paying jobs.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Glenfarne Alaska LNG and POSCO ink preliminary partnership
Glenfarne Alaska LNG and POSCO signed a preliminary strategic agreement during the GasTech Conference in Milan on Thursday.

Steel export volumes remain weak through July
Following a 3% decline in June, the amount of steel shipped outside of the US edged up 1% in July to 623,000 short tons. July was the sixth-lowest monthly export rate since the COVID-19 pandemic, and...

Hot-rolled market participants say ‘doldrums’ to roll on through year-end
Participants in the hot-rolled steel sheet market expect the market to remain subdued through the end of the year.

Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.

Great Lakes iron ore shipments declined in August
Shipments of iron ore across the Great Lakes dropped to 5 million short tons (st) in August, according to the latest data from the Lake Carriers’ Association. That’s down 9.1% compared to August 2024 and 2% lower than the month’s 5-year average. All told, the year-to-date (YTD) iron ore volumes through August totaled 26.7 million […]