USW temporarily extends ArcelorMittal/ USSC contracts
On the eve of the United Steelworkers' expected contract expiration with ArcelorMittal in the US, the union has struck a deal to temporarily extend the contract, Kallanish learns from a union update. The U. S. Steel Corporation meanwhile also confirmed early on 2 September that it has extended the its own collective bargaining agreements with the USW.
"Although we are not satisfied with the little progress we have made at the table since negotiations began on 9 July, 2018, on Thursday, we reached an understanding to extend our current contracts for a short period of time while negotiations proceed, subject to a 48-hour notice if either party intends to terminate," the USW says of its agreement with ArcelorMittal. "Unless the character and direction of our contract negotiations with ArcelorMittal change quickly and dramatically, we will plan to schedule membership meetings at all locations during the month of September to discuss our next steps."
Meanwhile "U. S. Steel and the United Steelworkers have agreed to an ongoing extension of the collective bargaining agreements that were scheduled to expire at 11:59 p.m. Sept. 1., which we believe is in the best interest of our employees, customers, stockholders and other stakeholders," the steelmaker confirms in a note sent to Kallanish. All U. S. Steel facilities continue to operate in a safe and orderly manner, the note concludes.
The union is concurrently holding a nation-wide series of rallies to drum up support for its negotiations with both ArcelorMittal and U. S. Steel. The union has said in previous updates that it is seeking gains from U. S. Steel as the steel industry in the country emerges from a nearly three-year general slump. This is as a result of US President Donald Trump's Section 232 tariffs.
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Anonymous
Very good overview of the weekly steel market.
Anonymous