General Motors (GM) is planning a ~$250 million investment to upgrade its Parma Metal Center. The outlay is part of GM's plans to invest ~$4 billion in its US-based manufacturing operations over the next two years. Its 2025 reshoring commitments currently total over $5 billion.
Cleveland-Cliffs Inc. has reportedly signed "unusually long" fixed-price supply agreements with multiple US automakers.
European automaker Stellantis is mulling a major management shakeup following the company’s recently lowered 2024 guidance. 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.
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.
The 2024 Tampa Steel Conference is coming up soon after the kickoff of 2024. One of the premier steel conferences in the US, it will be a great complement to our record-breaking SMU Steel Summit this past August.
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.
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.
Nucor Corp. has announced a $280-million investment to modernize its plate mill in Tuscaloosa, Ala.
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.
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.
The United Auto Workers (UAW) reached a tentative agreement with General Motors on Monday. If all tentative deals on the table are ratified, this could signal the end of the "stand-up strike."
General Motors has reached a tentative labor agreement with the United Auto Workers (UAW) union, according to an article in Bloomberg.
The United Auto Workers (UAW) union on Saturday evening expanded its strike again General Motors.
I wrote on Sunday that it could be a busy week for steel. It has been.
Ford and United Auto Workers (UAW) leaders confirmed on Wednesday evening that they had reached a tentative labor agreement. “Ford is proud to assemble the most vehicles in America and employ the most hourly autoworkers,” Ford CEO and President Jim Farley said in a statement sent to SMU. “We are focused on restarting Kentucky Truck […]
The United Auto Workers (UAW) union and Ford could soon reach a tentative labor deal.
The UAW went on strike on Tuesday at General Motor’s truck and SUV plant in Arlington, Texas – the automakers’ largest assembly plant in the US.
United Auto Workers (UAW) president Shawn Fain indicated on Friday that a deal between the UAW and the “Big Three” automakers could be in sight.
Canada’s Unifor, which represents union-represented auto workers there, has opened negotiations with automaker Stellantis.
Unifor members in Canada have ratified a new three-year labor agreement with General Motors
The United Auto Workers (UAW) union announced a new phase in its ongoing stand-up strike against the Big Three Detroit-area automakers on Friday.
Canada’s Unifor union reached a tentative labor agreement with General Motors on Tuesday, Oct. 10.
A service center executive recently told me that the best way to make a fool of yourself was to try to predict what flat-rolled steel prices were going to do. He hadn’t expected that hot-rolled coil prices would rebound from less than $600 per ton ($30 per cwt) for some larger buyers to potentially more […]
The United Auto Workers’ (UAW) strike against the Big Three Detroit-area automakers was not expanded on Friday, as “significant progress” is being made in contract negotiations.
The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.
The Big Three automakers reported their third-quarter sales this week, with two of the three showing strong year-over-year gains.
General Motors made its sixth contract offer to the United Auto Workers (UAW) as the union continues its strike against all three Detroit-area automakers.