Ford Motor Co. announced it will reshore production of Lincoln-brand vehicles as part of its commitment to American manufacturing. The Dearborn, Mich.-based automaker said it will phase out the importation of vehicles from China for the US market and increase domestic Lincoln production starting in 2030.
AMU: Ford and GM's results show earnings supported by tariff timing and mix, while volumes, inventory, and cash flow point to a constrained supply and uneven demand.
It remains unclear how long the repairs will take, as the second fire in November damaged the hot mill’s finishing mill.
Ford executives said the automaker expects aluminum supplier Novelis to restart its fire-damaged Oswego, NY hot mill by late November or early December.
Cleveland-Cliffs Inc. has reportedly signed "unusually long" fixed-price supply agreements with multiple US automakers.
Ford Motor Co. started a planned outage early at its Chicago assembly plant due to a supply chain issue.
The United Auto Workers (UAW) union has reached a tentative labor agreement with Ford, averting a potential strike at a truck plant in Dearborn, Mich.
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
We’ve taken some time to supply you with some handy-dandy production figures for 2024 presented in a unique way.
It feels like the summer doldrums arrived a little earlier than usual this year. I know there had been rumors of a price hike. The prospect of a sharply lower June scrap trade probably didn't help the chances of that actually happening.
As the US slides further into protectionism as the solution for our trade problems, a solution that will put us in a position to succeed in the growing economic battle with China is yet to be discovered. The tariffs on China, which President Biden doubled down on, are not working—at least if the goal to out-compete China and other growing economies. China is not our only problem. But it is our No. 1 challenge right now, in geopolitics, potential hostilities, and economics. EVs are a sign of this challenge.
The free market operates best when it is freest. But all governments intervene in markets in response to conditions that threaten peaceful progress. President Biden decided last week that market intervention was justified. He approved a report from the US Trade Representative (USTR) that recommended continuing the “Section 301” tariffs on Chinese imports into the United States.
Workers at Volkswagen's assembly plant in Chattanooga, Tenn., have voted overwhelmingly to join the United Autoworkers (UAW) union. More than 3,600 ballots were cast, with 73% of Chattanooga workers voting to join the UAW and only 27% voting against unionization, per the UAW.
A United Auto Workers (UAW) local has reached a tentative agreement with Ford, avoiding a strike at the automaker’s Kentucky Truck Plant (KTP).
Approximately 9,000 United Auto Workers (UAW) members at Ford’s Kentucky Truck Plant said they will strike on Friday, Feb.. 23, if local contract issues are not resolved.
It was another steady drip lower, down $20/st to $980/st. In other words, the kind of on-and-off declines we’ve been seeing since the start of the year.
The LME aluminum 3-month price is moving higher on the morning of Dec. 15 and was last seen trading at $2,258 /metric ton. This means the price is up 7% already since the new low for 2023 was reached on Wednesday at $2,109 /metric ton. The US Dollar reached its lowest level since early August […]
Oct. 26 was my previous Steel Market Update contribution. The night before, Ford and the United Auto Workers (UAW) announced they had reached a tentative agreement for a new labor contract.
Non-union workers from 13 automakers are making moves to join the Detroit-based United Auto Workers (UAW) union.
Canadian steelmaker Algoma has announced the retirement of its VP of sales Rory Brandow, effective Dec. 1.
The United Auto Workers (UAW) union has released the final tally of member votes, with a combined total of 64% voting in favor of labor agreements across the Detroit-area “Big Three” automakers.
United Auto Workers (UAW) union members at Ford and Stellantis have joined their compatriots at General Motors in voting to ratify new labor contracts. That’s according to vote tallies posted by the union. The count was lopsided in favor of the new deal at Ford (69% of votes for ratification) and Stellantis (70% of votes […]
United Auto Workers (UAW) union members seem poised to ratify contracts at Ford and Stellantis, according to UAW vote trackers and media reports.
United Auto Workers (UAW) members have ratified a new labor contract with Detroit-based General Motors, the largest US automaker. In other words, the UAW strike that began on Sept. 15 - and that rattled the steel industry in the months leading up to it - is almost in the rear-view mirror.
On SMU's Nov. 15, 2023, Community Chat, the CEO of the Center for Automotive Research discussed steel's role in the automotive industry's transition to EVs.
Sheet prices are up again. That shouldn’t come as a surprise on the heels of mill price hikes, scrap settling up and expected to move higher over the next few months, and inventories – as our premium subscribers will learn tomorrow – moving lower for a third month.
United Auto Workers (UAW) members at plants in Louisville, Ky., and Flint, Mich., have voted against ratifying the contracts with two of the “Big Three” Detroit-area automakers.
Center for Automotive Research (CAR) president and CEO Alan Amici will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Nov. 15, at 12 p.m. ET. You can register here.
The announcement that Republic Steel in Canton, Ohio, is going to permanently cease operations disappointed many scrap suppliers in Ohio and Pennsylvania.
The “Big Three” Detroit-area automakers' tentative labor agreements are set to expire on April 30, 2028, six months longer than the normal four-year agreements.