Steel Products
UAW Ratifies Labor Deal with Caterpillar
Written by David Schollaert
March 13, 2023
The United Autoworkers (UAW) union announced on Sunday, March 2, they have agreed to a new labor pact with Caterpillar Inc. after UAW members ratified the terms of a new, six-year collective agreement.
A tentative pact was settled ahead of the expiration of a prior contract on March 1, according to both parties. The UAW and the Irving, Texas-based heavy equipment maker had been negotiating toward a new deal since Jan. 5.
On Sunday, UAW members across four locals in Illinois and Pennsylvania ratified their new contract with Caterpillar.
The terms of the contract are effective immediately, UAW said in a statement.
“We commend the UAW-Caterpillar bargaining team for their hard work and UAW membership for their solidarity and support throughout this process,” the union said.
“We are pleased to have reached what we believe to be a fair, reasonable and comprehensive agreement,” Caterpillar said in a statement.
The new four-year labor pact covers roughly 7,000 hourly production employees within Caterpillar’s Central Illinois and York, Pa., facilities.
By David Schollaert, david@steelmarketupdate.com

David Schollaert
Read more from David SchollaertLatest in Steel Products

Rig counts trend lower in US and Canada
Oil and gas drilling activity eased in both the US and Canada this week, according to Baker Hughes. US rig counts remain near multi-year lows, and Canadian activity continues its seasonal slowdown.

Wittbecker on Aluminum: When do the tariffs reach Main Street?
Containers sailing from China in April are down 15%-20% and Hapag Lloyd says their future bookings transpacific are down 30%.

SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

US, offshore CRC prices edge lower
US cold-rolled (CR) coil prices edged lower again this week, slipping four weeks in a row now. Most offshore markets mirrored the move, ticking down marginally as well.

ISM: Manufacturing growth down again in April
Activity had trended up for most of Q1