Steel Markets

UAW Pushes Back on Early May Restart
Written by Sandy Williams
April 25, 2020
General Motors and Fiat Chrysler have proposed reopening in early May, but United Autoworkers are pushing back due to safety concerns.
“At this point in time, the UAW does not believe the scientific data is conclusive that it is safe to have our members back in the workplace,” said UAW President Rory Gamble in an April 23 statement. “We have not done enough testing to really understand the threat our members face. We want to make sure the scientific data is supportive and every possible health protocol and enhanced protections are in place before UAW members walk into the workplace.”
In an update on Friday, Gamble said the big question remains: Will our members be safe? “If the answer is no, then our course is clear.” Experts have been clear, said Gamble, that “if we restart too early, it will be calamitous for all of us.”
He added, “These decisions cannot be dictated by economics or stock prices or market conditions. They must be dictated by science and the safety of our working men and women. And based on that, which is the only criteria the International Executive Board and I are using, I feel the scientific data is not conclusive at this point and it is too risky for our members, their families and our communities to support a quick return to work in early May.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

Hot-rolled coil buyers continue seeking certainty
Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored.

Latin American steel advocates warn on cheap import flood
Subsidized Chinese steel imports and cheap steel products from Association of Southeast Asian Nations (ASEAN) entering Latin American (LATAM) are threatening the region's steel market.

CRU: Steel prices fall amid global demand weakness
The forceful headwinds bearing down on steel markets across the globe have created demand challenges and sent prices southward. The US, however, challenged the global trend.

Hot-rolled price hikes garner mixed reactions from the market
Several steel market sources say they were blindsided when mills increased spot prices for hot-rolled coils this week.

Steel market participants mull the impact of US/Mexico S232 negotiations
Steel market participants learned that negotiations between the US and Mexico include discussions about Section 232 tariffs on steel and aluminum despite President Trump’s June 3 proclamation increasing the tariffs from 25% to 50% for all steel and aluminum imports—except for those from the UK.