September 18, 2023
September Market Minute 2023
Will Auto Strike Drive Steel Prices Higher?
On September 15, the United Auto Workers (UAW) union went on strike against Ford, GM, and Stellantis. The last time auto workers went on strike in 2019 lasted roughly 40 days.
Even if you are not in the automotive market, this news could impact your business as it relates to steel. Some points to consider: Â
Current lead times:
Hot-rolled: 3-5 weeks
Cold-rolled: 4-6 weeks
Coated: 4-6 weeks
In High Demand
As we roll toward the final few months of 2023, here’s a look at where metal demand is anticipated to be highest for some industrial metals:
Steel
Hot areas in the steel market include infrastructure-based sectors such as offshore wind transmission towers and heavy machinery.
Infrastructure projects, including bridge and highway work, mainly drive steel plate demand.
Sectors like data centers, server racks, and HVAC perform well on the flat roll side.