Steel Markets

GM To Invest $632M in Fort Wayne Assembly Plant
June 13, 2023
General Motors said Monday it plans to invest $632 million in its Fort Wayne, Ind., assembly operation for future truck production.
The Detroit-based automaker said the investment will prepare the plant for production of “the next-generation internal combustion engine (ICE) full-size light-duty trucks,” adding that product details and timing related to future trucks are not being released at this time.
“This investment reflects our commitment to our loyal truck customers and the hard work of the dedicated Fort Wayne team,” Gerald Johnson, EVP of global manufacturing and sustainability, said in a statement.
“It also highlights the company’s commitment to continue providing customers a strong portfolio of ICE vehicles for years to come,” he said.
Johnson noted that GM’s manufacturing operations include more than 50 assembly, stamping, propulsion and component plants and parts distribution centers nationwide.
The Fort Wayne operation builds the Chevrolet Silverado 1500 and GMC Sierra 1500. GM said the investment will support new conveyors, tooling, and equipment in the plant’s body and general assembly areas.
Hourly employees are represented by United Auto Workers (UAW) union Local 2209, according to GM.
“When business is booming as it has been for the past decade — due to the hard work of UAW members — the company should continue to invest in its workforce,” said Mike Booth, UAW VP, GM department. “It is good to see that GM recognizes the hard work you, the UAW membership, contribute to the success of this company.”
This investment comes on the heels of other investments the automakers announced earlier this month.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Steel Markets

Still no cure for the summertime HR market blues
Seasonal steel slowdowns combined with ongoing anxieties about tariffs and mill strategies have dampened sentiment for several hot-rolled steel market participants this week. Buyers are jittery, market stands still The operator of a Midwest-based service center said that steel buyers are scared. “Everyone is afraid to buy steel right now. Unless you’re on a […]

SSAB Americas reports higher Q2 production and shipments
Despite improved operating results, SSAB Americas' second-quarter and H1’25 profits fell short of those of last year.

Global steel production slips in June
The total volume of raw steel produced around the globe fell by 5% from May to June, according to recent data published by the World Steel Association (worldsteel).
Market sentiment shows improvement: PMA Business Conditions Report
Metalforming manufacturers say they’re more confident that near-term economic conditions are improving

Galvanized steel prices and demand remain stagnant in July: HARDI
Galvanized steel prices ping-ponged in the $50/hundredweight range during the month of July, settling in at roughly the same position as in June.