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.
AdvertisementAdvertisementThe UAW strike is hitting more than just car production and distribution.
AdvertisementAdvertisementAccording to the American Iron and Steel Institute, steel currently makes up about 54% of the material that goes into making the average vehicle.
But with workers on strike are 43 facilities across the country, that's bound to slow demand for steel.
Persons:
—, Ford
Organizations:
UAW, Service, Big Three, Anderson Economic, Wall Street, American Steel, Iron and Steel Institute, General Motors