In G.M. Strike, Both Sides See a Crossroads

Well, the big news today for metal stampers has got to be the GM strike.

New York Times
The United Automobile Workers union wielded its most potent weapon against General Motors yesterday, sending 73,000 workers to picket lines in its first national strike at G.M. since 1970.

But what does it mean for metal stampers? If you supply GM, various industry officials say that 2 supplier jobs for every GM worker job are also in danger. That’s almost 150,000 jobs in parts manufacturing.

Beyond that, if the strike goes on for any length of time, the GM steel consumption will be taken out of the steel marketplace. There’s a chance that steel lead times will drop, and perhaps also steel prices.

I guess we’ll have to wait and see.

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