• Skip to main content

    Manufacturers/End Users

    October 10, 2024

    Shakeup in US auto industry with management changes, layoffs

    Written by Ethan Bernard

    European automaker Stellantis is mulling a major management shakeup following the company’s recently lowered 2024 guidance, according to a Bloomberg report. This comes amid a spate of layoffs in the last few months at Stellantis, which has significant operations in the US, and at General Motors.

    In its adjusted guidance at the end of last month, Stellantis cited a soft North American market and weakening industry dynamics worldwide.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

    Read more from Ethan Bernard

    Latest in Manufacturers/End Users

    Steel supply constraint disrupts production schedules at Nissan

    A steel supply constraint is affecting some production schedules at Nissan North America, the automaker confirmed to SMU. The confirmation followed a Friday report by WLBT3 News that the constraint was affecting production at Nissan’s Canton, Miss., plant. SMU asked whether the issue was affecting other facilities. “Nissan continues to manage a steel supply constraint affecting some of our production schedules,” a company spokesperson said in an email to SMU on Wednesday, Oct. 21. Nissan is working with its supplier and taking steps to limit disruption to employees, dealers, and customers, the spokesperson added. The company provided no further details.

    Behlen closes Florida metal buildings manufacturing plant

    Behlen Mfg. Co. announced the closure of its Behlen Building Systems manufacturing facility in Sarasota, Fla. The company cited high production costs in the Southeast US, higher material and freight costs, and its commitment to operating efficiently and remaining competitive. Behlen expects the closure to be completed by Dec. 18. A Florida WARN notification shows 55 employees will be affected. “This was a difficult decision, particularly because of the impact it will have on our employees in Sarasota,” said CEO Tom Boal in a statement. “We are grateful for the dedication, hard work, and contributions of our Sarasota team. While the decision to close a facility is never easy, we must continue making strategic decisions that strengthen our operations and position Behlen for long-term success.”

    Nucor plans $60M expansion of Alabama Towers & Structures facility

    Nucor Corp. announced a $60 million investment to expand its Towers & Structures facility in Trinity, Ala., to increase production of steel poles and other structures for utility infrastructure. The Towers & Structures manufacturing facility, which began operating in September 2025, is adjacent to the Nucor Steel Decatur flat-rolled mill. The expansion will add production capacity, laydown space, and a dedicated galvanizing inspection area, the company said. "Utilities across the country are making significant investments to strengthen and modernize the nation's power grid," remarked Nucor Chair and CEO Leon Topalian. "By expanding our Trinity facility adjacent to our Decatur sheet mill, we can combine American-made steel with highly efficient manufacturing to better serve our utility customers and support their long-term infrastructure needs. “

    Fed Beige Book finds stronger steel, machinery demand but rising cost pressure

    Manufacturing activity improved in several Federal Reserve districts, but conditions remained mixed nationwide, according to the Fed’s Oct. 14 Beige Book report. Demand was strongest in steel, machinery, defense-related products, and data center infrastructure. Steel producers in the Cleveland District reported firm spot market demand. Data center, power-generation, defense, and aerospace projects supported orders. Long mill lead times kept customer inventories lean and prices high. Producers also reported higher orders from truck-trailer and light-vehicle manufacturers. International demand for hydrogen vehicle parts increased.

    SMU Survey: Mill negotiation rates rise on sheet, fall for plate

    Sheet buyers found mills slightly more negotiable on price this week, while plate buyers thought mills were less flexible on spot price tags, according to our latest survey data. Every two weeks, SMU surveys service center and manufacturer buyers to see whether mills will negotiate on new spot sheet and plate orders. In this week’s survey, 14% of respondents said mills were willing to talk price to secure an order, up three percentage points from two weeks earlier (Figure 1). This is the highest reading since July 8, when the rate stood at 18%.