Steel Markets

UAW/GM Will Take Lead in Auto Negotiations
Written by Sandy Williams
September 2, 2019
The United Auto Workers has chosen General Motors as the lead company for labor negotiations that will set the pattern for 2019 discussions. Contracts at the Detroit Big 3 will expire at midnight on Sept. 14.
“We are focused. We are prepared. And we are all ready to stand up for our members, our communities and our manufacturing future,” said Gary Jones, UAW President.
Union members overwhelming approved strike authorizations at GM, Ford and FCA. The vote is a routine requirement of the UAW constitution that gives negotiators the authorization to call for a strike if necessary.
The UAW members approved the strike vote by a 94.98 percent rate at Ford, 96.4 percent at GM and 96 percent at FCA.
“No one goes into collective bargaining taking a strike lightly. But it is a key tool in the toolbelt as our bargaining team sits across from the company,” said Jones. “Ultimately, the company holds that destiny in their hands as they bargain. Clearly, the UAW stood up for them in a very dark time. Now that they are profitable, it is time for them to stand up for all of us.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.

CRU: US longs market holds steady despite tariff pressures
he US longs market remained stable this month despite ongoing challenges from tariff-impacted imports, even as end-use demand was relatively unchanged and scrap prices held flat in August.

Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.

Sheet market participants say sales still in a slump
Across the US and throughout the steel supply chain, market participants are reporting another painfully quiet week for hot-rolled (HR) coil sales.

CRU: Lower sheet prices have pulled back demand for imports
Domestic sheet prices in the US remained under pressure, limiting interest in imports, while domestic prices for longs products continued to rise.