GM aims to reopen North America plants on 18 May

Market: Coking coal, Metals
06/05/20

US automaker General Motors (GM) plans to reopen the majority of its North American facilities beginning on 18 May after shuttering the plants in response to the spread of Covid-19.

The company announced the dates today following the [staggered closure of plants that began on 18 March](metals.argusmedia.com/newsandanalysis/article/2088349).

GM plans to first bring back production of its most profitable vehicles, including trucks and SUVs, and it plans to focus on regions with low inventory of those models.

First-quarter global sales dropped by 22pc from a year earlier to 1.45mn vehicles, while profit tumbled by 87pc to around $300mn. North American sales fell by 7pc to 719,000 vehicles.

The company expects sales to drop again in the second quarter.

GM is among a half dozen automakers restarting North American manufacturing operations. With automakers consuming significant amounts of flat-rolled steel, shutdowns stemming from Covid-19 prevention measures have pressured US steelmakers to reduce flat-rolled steel capacity by more than 15.5mn short tons/yr.

Daimler AG, the parent company of Mercedes-Benz, started reopening plants in Alabama and South Carolina on 27 April.

Earlier this week, automakers [Kia and Hyundai](metals.argusmedia.com/newsandanalysis/article/2102257) started reopening plants in Alabama and Georgia respectively on a one-shift basis.

Fiat-Chrysler (FCA) moved [to reopen](metals.argusmedia.com/newsandanalysis/article/2102449) its North American operations by the week of 18 May, with one plant in Belvidere, Illinois, scheduled to restart on 1 June.

[Toyota is scheduled](metals.argusmedia.com/newsandanalysis/article/2100987) to begin opening plants on 11 May, while Ford expects to restart in mid-May.

By Will Ehrhardt

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Cop: Guterres warns of exploitation in minerals race

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Cop: Guterres warns of exploitation in minerals race

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Echion, CBMM open Nb anode material facility

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US inflation rises in October to 2.6pc

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13/11/24

US inflation rises in October to 2.6pc

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Five factors to watch for in the tungsten market

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13/11/24

Five factors to watch for in the tungsten market

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