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.
Steel Market Update’s Steel Demand Index has moved into growth territory after seeing steady improvement since mid-September, according to our latest survey data.
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.
Domestic scrap prices rose in November month over month for all grades that SMU covers, market sources said.
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.
Cleveland-Cliffs announced it would seek a minimum base price of $1,000 per ton ($50 per cwt) for hot-rolled coil (HRC) on Nov. 7. Nucor said a day later that it was aiming for $950 per ton. Why didn’t Nucor follow Cliffs up to $1,000 ton? I think there might be some possible answers in our […]
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.
Several past columns in SMU have included comments about the futures forward curve, using terms like contango and backwardation
Alan Price discussed the deep complexity of issues in the Global Arrangement on Sustainable Steel and Aluminum negotiations between the US and EU on Wednesday’s Community Chat.
United Auto Workers (UAW) members at auto parts supplier Mobis North America in Toledo, Ohio, have authorized leaders to call a strike when their contract expires next week, according to a UAW post on X.
SMU gives an overview of the steel market and economic indicators for October.
You could make a case that Nov. 1 was April Fool’s Day for steel – or at least for the widespread rumor that Cliffs would announce a $10-billion deal for U.S. Steel on that date. I’m not going to endorse any precise date or price tag. But I’d be surprised if a deal – or […]
Algoma Steel said its quarterly earnings were impacted by falling steel prices and lower buying associated with the United Auto Workers (UAW) strikes in the US. But with the strikes wrapping up, it expects a recovery in both pricing and demand moving forward.
A large Detroit-area scrap buyer has settled scrap prices for November, with busheling, shredded, and plate and structurals (P&S) all notching gains vs. October, a scrap source told SMU.
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.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.
Manufacturing activity in the US contracted once again during the month of October.
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 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.
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.
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."
Ford Motor Co. said the United Auto Workers' (UAW) strike has shaved ~80,000 vehicles from production.
Canadian union Unifor has reached a tentative agreement with automaker Stellantis, ending the strike at all member-represented facilities.
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.
Stellantis and the United Auto Workers (UAW) union announced on Saturday that they had reached a tentative labor agreement.
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’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.
I wrote on Sunday that it could be a busy week for steel. It has been.