Steel Markets
September 19, 2019
Swiecki: GM Strike to Have Little Long-term Impact on Steel
Written by Tim Triplett
The strike by 48,000 members of the United Auto Workers against General Motors extended through its fourth day on Thursday with reports of some progress, but much negotiation still to come. Suppliers to the nation’s largest automaker are reportedly starting to feel the effects of cancelled deliveries and lost sales, with some announcing layoffs and hoping for quick agreement on a new contract.
While the duration of the UAW’s strike at GM is impossible to predict, and the longer the work stoppage the more disruption to the supply chain, the ultimate effect on steel consumption is likely to be minimal, said Bernard Swiecki, assistant director of the industry, labor and economics group at the Center for Automotive Research.
