Steel Markets

Chrysler to Idle Illinois Plant Until Month's End on Chip Shortage
Written by Michael Cowden
October 8, 2021
Stellantis – the Dutch parent company of Chrysler – has extended downtime at one of its U.S. plants because of the ongoing global microchip shortage, a company spokeswoman said.
The Auburn Hills, Mich.-based automaker’s assembly plant in Belvidere, Ill., will be down through the end of October, she said.
“Stellantis continues to work closely with our suppliers to mitigate the manufacturing impacts caused by the various supply chain issues facing our industry,” the spokeswoman said in an email to Steel Market Update on Friday, Oct. 8.
The Belvidere plant had previously been scheduled to resume production next week. Belvidere makes the Jeep Cherokee SUV.
There was little in the way of additional downtime to report as of Friday afternoon.
Case in point: Detroit-based General Motors – the largest U.S. automaker and Chrysler’s crosstown rival – has no updates this week besides what has been announced previously, a company spokesman said.
And Japanese automaker Toyota, which has significant operations in North America, said it would have no updates until Monday, Oct. 18.
By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden
Read more from Michael CowdenLatest in Steel Markets

Trading firms Mercuria and Tata International partner in joint venture
Geneva-based global commodities trader Mercuria is set to acquire a majority stake in Tata International, according to a report in India's Economic Times.
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.