Steel Products

UAW, John Deere Come to Terms on New Six-Year Contract
Written by David Schollaert
November 18, 2021
United Auto Workers (UAW) members at John Deere ratified a new collective bargaining agreement on Wednesday, ending a month-long strike that had seen two previous deals rejected.
The UAW said 10,000 members ratified a new six-year contract offer by a vote of 61%, covering 14 facilities across the U.S. The previous two offers were rejected by 90% and 55% of the UAW membership, respectively.
“I’m pleased our highly skilled employees are back to work building and supporting the industry-leading products which make our customers more profitable and sustainable,” said John May, Deere’s chairman and CEO. “John Deere’s success depends on the success of our people. Through our new collective bargaining agreements, we’re giving employees the opportunity to earn wages and benefits that are the best in our industries and are groundbreaking in many ways. We have faith that, in return, our employees will find new and better ways to improve our competitiveness and transform the way our customers do their work. Together, our future is bright.”
The previous six-year contract between the UAW and Deere expired on Oct. 1, but had been extended pending ongoing negotiations. The union had been on strike since Wednesday, Oct. 13.
The new agreement includes an $8,500 signing bonus; 20% increase in wages over the lifetime of the contract with 10% this year; return of cost-of-living adjustments; three 3% lump sum payments; enhanced options for retirement; and enhanced CIPP performance benefits. Healthcare remains the same for the life of the agreement, the union said.
“UAW John Deere members did not just unite themselves, they seemed to unite the nation in a struggle for fairness in the workplace,” said Ray Curry, UAW president. “We could not be more proud of these UAW members and their families.”
By David Schollaert, David@SteelMarketUpdate.com

David Schollaert
Read more from David SchollaertLatest in Steel Products
CRU: Excessive global supply could hit rebar mill investments in US
Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]

Steel buyer spirits tempered by soft spot market conditions
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.

CRU: US stainless prices to rise on expanded S232 tariffs
Stainless prices in the US market will rise, following price increases by major US producers. Our base case scenario incorporates higher US prices in the near term, despite the initial negative reaction by the market. US stainless prices will go up in 2025 H2 and will stay elevated in 2026 as tariffs on stainless […]

Galvanized steel demand unsteady amid lingering buyer fatigue: HARDI
Uneven demand for galvanized steel in June reflects a market that remains mired in uncertainty, according to industry sources.

OCTG industry salutes Customs for catching trade crooks
The US OCTG Manufacturers Association is commending US Customs for intercepting another Thai company's attempt to illegally transship Chinese oil pipe to the US.