Final Thoughts
There was consensus that steel prices would crash on the UAW strike and then rebound just as sharply once the union and the “Big Three” automakers reached tentative deals.
Tag: strike
US Manufacturing Sector Contracts Further in October: ISM
Manufacturing activity in the US contracted once again during the month of October.
UAW Contract Expirations Set for April 30 to Coincide With May Day
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.
SMU Community Chat: Nov. 15 With CAR President and CEO Alan Amici
SMU will host a Community Chat on Wednesday Nov. 15 at 12 pm ET with Alan Amici, president and CEO of the Center for Automotive Research (CAR). The webinar is free for all to attend live. A recording will be available to SMU subscribers. You can register here.
Final Thoughts
Sheet prices are getting back into very lofty territory. That’s assuming you can find spot tons available for the balance of 2023 – and some of you say you can’t.
UAW Reaches Tentative Deal With GM. End of Strike in Sight?
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."
St. Lawrence Seaway Reopening After Tentative Labor Pact Is Reached
The St. Lawrence Seaway is reopening after a tentative agreement has been reached between striking Unifor members and the St. Lawrence Seaway Management Corp. (SLSMC).
GM Reaches Tentative Deal with UAW, Bloomberg Says
General Motors has reached a tentative labor agreement with the United Auto Workers (UAW) union, according to an article in Bloomberg.
UAW Expands Strike Against GM, Walks Out of Tenn. Assembly Plant
The United Auto Workers (UAW) union on Saturday evening expanded its strike again General Motors.
Stellantis, UAW Reach Tentative Labor Deal. Belvidere Assembly Plant To Reopen
Stellantis and the United Auto Workers (UAW) union announced on Saturday that they had reached a tentative labor agreement.
CRU Aluminum: Relief Comes With Word of Pending UAW Deal
With the aluminum industry assembled in Nashville, Tenn., for the Aluminum USA 2023 conference, word was breaking of a tentative deal between the United Auto Workers (UAW) and Ford.
U.S. Steel Talks Price Hike, Investments; Says Little on Sales Process
U.S. Steel’s third-quarter earnings call with analysts on Friday, Oct. 27, was packed full of insight into the Pittsburgh-based steelmaker’s current state of affairs.
Final Thoughts
I wrote on Sunday that it could be a busy week for steel. It has been.
HRC Futures Go Vertical
These were the headlines hot off the press Wednesday night:
Reliance Seeing Healthy Demand, Limited Impact from UAW Strike
Reliance Steel & Aluminum is anticipating overall demand to remain healthy through year’s end despite some weakening in some sectors and normal seasonality.
SMU Survey: Mill Lead Times Push Out Further
Mill lead times for flat-rolled products pushed out this week once again across the board.
ArcelorMittal Warns St. Lawrence Strike Could Hit Dofasco Raw Material Supplies
Canadian steelmaker ArcelorMittal Dofasco could be impacted by a strike on the St. Lawrence Seaway, a company spokeswoman said.
Ford, UAW Confirm Tentative Labor Agreement. Ford Workers Back on the Job.
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 […]
Radius Recycling Optimistic Despite Tight Market
Radius Recycling thinks that an end to the UAW strike could relieve pressure on a tight domestic scrap market. Scrap supplies have fallen because of lower manufacturing, construction, and demolition activity as well as “the slowing economy overall,” Radius chairman, president, and CEO Tamara Lundgren said. Inflation and higher interest rates have contributed to that […]
Unifor Strike Shuts Down St. Lawrence Seaway
The St. Lawrence Seaway is shut down after members of Canada’s Unifor union went on strike against the St. Lawrence Seaway Management Corp. (SLSMC) this past weekend.
UAW Counteroffer to Ford Could Soon Lead to Deal: Report
The United Auto Workers (UAW) union and Ford could soon reach a tentative labor deal.
Final Thoughts
Taylor Swift’s “Shake It Off” could be the theme song for the sheet market over the last month. A UAW strike? Shake it off. The lowest ABI since December 2020? Shake it off. A potentially widening conflict in the Middle East? Shake it off. Sheet prices have been rising since late September, and hot-rolled coil […]
SMU Price Ranges: Sheet Up as Price Hikes Gain Traction
Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.
Nucor Confident on Strong Long-Term Appetite for Steel
Nucor Corp. remains incredibly bullish long-term on steel demand, but an underlining theme during the steelmaker’s third-quarter earnings conference call with analysts on Tuesday, Oct. 24, was tempered near-term expectations.
UAW Strikes GM Truck Plant in Arlington, Texas
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.
UAW Strike Hits Stellantis’ Largest Plant
The United Auto Workers (UAW) union expanded its strike on Monday morning, hitting Stellantis’ largest plant.
Final Thoughts
This week could be a big one for steel, or at least for the steel rumor mill. For starters, there is renewed speculation that an announcement about the U.S. Steel sales process could be in the works. The rumor mill is also churning fast when it comes to the duration of the UAW strike and […]
UAW's Fain Calls No New Strikes, But Says Still No Deals With 'Big Three'
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.
November Scrap Tags Seen Mostly Sideways, Sources Say
As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.
UAW Workers Ratify Deal, End Strike at Parts Supplier ZF in Alabama
United Auto Workers (UAW) members ratified a labor deal at ZF Chassis Systems in Tuscaloosa, Ala., on Thursday, ending a nearly month-long strike.