Steel Markets

UAW, Ford Reach Tentative Labor Agreement
Written by Sandy Williams
October 31, 2019
The United Auto Workers and Ford Motor Co. have announced a tentative agreement just three days after talks began in “earnest” on Monday.
“Our national negotiators elected by their local unions have voted to recommend to the UAW-Ford National Council the proposed tentative agreement,” said UAW Vice President Rory Gamble. “Our negotiating team worked diligently during the General Motors strike to maintain productive negotiations with Ford. The pattern bargaining strategy has been a very effective approach for UAW and its members to secure economic gains around salary, benefits and secured over $6 billion in major product investments in American facilities, creating and retaining over 8,500 jobs for our communities.”
The tentative agreement will be reviewed by the UAW-Ford National Council and, if adopted, will be presented to Ford hourly and salaried members for a ratification vote.
The speed at which negotiators reached terms may indicate that Ford did not object to the pattern laid out in the GM agreement regarding temporary employees and other provisions.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

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 […]

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.