Tag: uaw

These were the headlines hot off the press Wednesday night:

Reliance Steel & Aluminum is anticipating overall demand to remain healthy through year’s end despite some weakening in some sectors and normal seasonality.

Mill lead times for flat-rolled products pushed out this week once again across the board.

U.S. Steel on Thursday announced that it would increase spot prices for steel sheet by another $100 per ton.

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 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 […]

The United Auto Workers (UAW) union and Ford could soon reach a tentative labor deal.

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 […]

Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.

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.

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.

The United Auto Workers (UAW) union expanded its strike on Monday morning, hitting Stellantis’ largest plant.

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 […]

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.

As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.

United Auto Workers (UAW) members ratified a labor deal at ZF Chassis Systems in Tuscaloosa, Ala., on Thursday, ending a nearly month-long strike.

Well, what a difference a month makes…

Canada’s Unifor, which represents union-represented auto workers there, has opened negotiations with automaker Stellantis.

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.

If you think prices will continue to rise, you might point to longer lead times and stable order entry.

Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.

Unifor members in Canada have ratified a new three-year labor agreement with General Motors

Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.

SMU’s latest survey data are out, and they reflect a consensus among steel buyers that sheet prices have bottomed out and might rebound. Lead times continue to extend. Fewer sheet and plate mills are willing to negotiate lower spot prices. And 70% of survey respondents think prices have already bottomed out or will later this […]

The LME aluminum 3-month price was stable on the morning of Oct. 13, trading at $2,201 per tonne at that time.

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.

SMU's Current Steel Buyers Sentiment Index edged down this week while the future index remained flat, based on our most recent survey data.

The sheet market appears poised for a rebound if you’re looking at the indicators we typically track.

Prime scrap prices were unchanged in October month over month, following a large Detroit-area buyer's lead, according to market sources.

If the last few years have taught us anything, it is that nothing is certain.