John Deere UAW workers strike

Union workers at heavy equipment manufacturer John Deere began striking this morning as contract negotiations failed.

Across 14 US plants, 10,000 International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) union members hit the picket lines at midnight. There is currently no end date for the strike.

Negotiations over a new contract began on 14 August. A tentative agreement had been reached on 1 October, but was subsequently rejected by 90pc of the union employees, according to the UAW.

John Deere builds motorized agricultural, heavy construction and consumer equipment and is a consumer of plate and flat-rolled steel products.

The Argus US plate delivered price has more than doubled since the beginning of the year to $1,840/short ton (st) on 12 October.

By Rye Druzin