- The UAW strike’s ripple effects is decreasing the demand for steel, the Journal reported.
- The strike has cut production of 6,030 vehicles a day that used 5,982 tons of steel, S&P estimates.
- Prices of coiled sheet steel, commonly used to make automotive parts, have fallen 40% since April.
The UAW strike is hitting more than just car production and distribution. It’s hurting the price of steel, too.
The strike has cost the Big Three automakers an estimated $1.12 billion in the first two weeks alone, according to Anderson Economic Group. Now in its third week, and with almost a fifth of the union on strike, the ripple effects are starting to materialize — and the US steel market is starting to feel the impact.
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