Steel Markets
UAW Talks with Detroit Automakers To Begin This Week
July 11, 2023
The United Auto Workers (UAW) union will begin contract negotiations with the Detroit 3 automakers later this week, according to media reports.
Talks are set to start on Thursday with Stellantis, on Friday with Ford, and on July 18 with General Motors, according to an article published by Reuters on Monday.
“We have a long history of negotiating fair contracts with the UAW that reward our employees and support the long-term success of our business,” a GM spokesperson said in a statement provided to SMU on Monday.
“Our total compensation package—including wages, bonuses, profit-sharing, benefits and comprehensive healthcare plan—is one of the best in the industry,” the spokesperson added.
The spokesperson told SMU that GM will provide “Fact Sheets” as the negotiations process advances covering topics such as “wages/compensation, healthcare, US impact, etc.” Additionally, periodic updates will be supplied at www.gmnegotiations2023.com.
Likewise, Stellantis, Chrysler’s European parent company, touted its history with the UAW.
“Stellantis and the UAW have a long history of working together, and our intent is to continue this partnership,” a Stellantis spokesperson said in a statement sent to SMU.
“On Thursday, we will begin discussions that will set our course for the next four years and beyond,” the spokesperson added.
The company’s focus will be on negotiating a contract that “will ensure our future competitiveness in today’s rapidly changing global market and preserve good wages and benefits that recognize the contributions of our represented workforce,” the spokesperson said.
Recall that the labor contracts for all of the Detroit 3 automakers expire on Sept. 14 at 11:59 p.m.
The UAW and Ford did not return requests for comment by time of publication.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Steel Markets
US steel exports rise to 12-month high in August
The amount of steel exiting the country in August reached the highest monthly rate recorded since August 2023.
Worldsteel lowers short-term forecast for global steel demand
The World Steel Association (worldsteel) has made significant downward revisions to its Short Range Outlook for global steel demand.
US steel imports tick up in August, fall again in September
August steel imports totaled 2.38 million short tons (st) according to final data released this week by the US Commerce Departmen
Dodge Momentum drops on moderating data center growth
Slowing growth in data center planning caused the Dodge Momentum Index (DMI) to pull back in September. The decline followed five months of growth after the index hit a two-year low in March.
US construction spending drops again in August
Construction spending in the US declined for a third month in August but showed an increase year over year (y/y). The US Census Bureau estimated construction spending to be $2.131 trillion in August on a seasonally adjusted annual rate (SAAR). While this was 0.1% below July’s revised spending rate, it was 4.1% higher than spending […]