Latest news with #autosupply
Bloomberg
3 days ago
- Automotive
- Bloomberg
Cliffs Inks Multiyear Steel Pacts with US Automakers in Tariff Aftershock
Cleveland-Cliffs Inc. has signed fixed-price contracts to supply steel to multiple US carmakers for up to three years, an unusually long duration that signals the auto industry is guarding against potential inflationary pressures. The new two and three-year accords are for industry-standard sheet steel, according to a person familiar with the matter, who asked not to be identified because the details haven't been publicly disclosed. General Motors Co. is one of the carmakers to agree to a multiyear pact, according to another person familiar with the matter.
CNA
05-06-2025
- Automotive
- CNA
US auto suppliers say immediate action needed on China rare earths restrictions
WASHINGTON: A group representing auto suppliers in the United States called on Wednesday (Jun 4) for immediate action to address China's restricted exports of rare earths, minerals and magnets, warning the issue could quickly disrupt auto parts production. China, which controls over 90 per cent of global processing capacity for rare earths used in everything from automobiles and fighter jets to home appliances, imposed restrictions in early April requiring exporters to obtain licenses from Beijing. The tighter restrictions followed the opening of a trade war between the US and China after President Donald Trump imposed tariffs on Chinese imports. In a statement to Reuters, MEMA, the Vehicle Suppliers Association said parts companies are facing "serious, real-time risks" to their supply chains. "The situation remains unresolved and the level of concern remains very high," the group said. "Immediate and decisive action is needed to prevent widespread disruption and economic fallout across the vehicle supplier sector." On May 9, the supplier group raised urgent concerns about the Chinese restrictions in a joint letter with the trade group representing General Motors, Toyota, Volkswagen , Hyundai and other major automakers. "Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras," MEMA and the Alliance for Automotive Innovation wrote to the Trump administration in the letter, which was first reported by Reuters. Rare-earth magnet exports from China halved in April as companies grappled with an opaque application process for permits that sometimes require hundreds of pages of documents. In a social media post last Friday, Trump accused China of violating terms of a deal reached in May to temporarily dial back the tariffs both sides imposed on each other and other trade restrictions. US auto companies are already feeling the impact of the restrictions. Ford shut down production of its Explorer SUV at its Chicago plant for a week in May because of a rare-earth shortage, the company said.
Reuters
05-06-2025
- Automotive
- Reuters
US auto suppliers say immediate action needed on China rare earths restrictions
WASHINGTON, June 4 (Reuters) - A group representing auto suppliers in the United States called on Wednesday for immediate action to address China's restricted exports of rare earths and other minerals, warning the issue could quickly disrupt auto parts production. MEMA -the Vehicle Suppliers Association said parts companies are facing "serious, real-time risks" to their supply chains. "The situation remains unresolved and the level of concern remains very high," the group said. "Immediate and decisive action is needed to prevent widespread disruption and economic fallout across the vehicle supplier sector."
Reuters
04-06-2025
- Automotive
- Reuters
Some European auto supplier plants shut down after China's rare earth curbs, association says
BERLIN, June 4 (Reuters) - Several European auto supplier plants and production lines have been shut down due to a shortage of rare earths caused by China imposing restrictions on exports, Europe's auto supplier association CLEPA said, warning of further outages to come. Of the hundreds of requests for export licenses made by auto suppliers since early April, only a quarter have been granted so far, CLEPA added, with some requests rejected on what the association described as "highly procedural grounds". "Procedures seem to vary from province to province and in several instances IP-sensitive information has been requested," it said, adding that if the process was not streamlined soon, more plants would likely be affected in the next three to four weeks as inventories depleted. China's decision in April to suspend exports of a wide range of rare earths and related magnets has upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors worldwide, prompting industry groups in Germany, the U.S. and India to call on politicians to lobby Beijing for a quick solution.
Yahoo
04-06-2025
- Automotive
- Yahoo
Some European auto supplier plants shut down after China's rare earth curbs, association says
BERLIN (Reuters) -Several European auto supplier plants and production lines have been shut down due to a shortage of rare earths caused by China imposing restrictions on exports, Europe's auto supplier association CLEPA said, warning of further outages to come. Of the hundreds of requests for export licenses made by auto suppliers since early April, only a quarter have been granted so far, CLEPA added, with some requests rejected on what the association described as "highly procedural grounds". "Procedures seem to vary from province to province and in several instances IP-sensitive information has been requested," it said, adding that if the process was not streamlined soon, more plants would likely be affected in the next three to four weeks as inventories depleted. China's decision in April to suspend exports of a wide range of rare earths and related magnets has upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors worldwide, prompting industry groups in Germany, the U.S. and India to call on politicians to lobby Beijing for a quick solution.
