Reuters – Workers at ArcelorMittal’s (ISPA.AS) steel plant in western Mexico went on strike on Friday, the company and the national union said, as the industry grapples with a plunge in prices.

Workers strike at ArcelorMittal Mexico plant over job cuts - 04 MarchMore than 3,000 workers have gone on strike over job cuts and stopped operations at the plant in Lazaro Cardenas, Michoacan, Ricardo Torres, the head of the local section 271 of the national miners and metal workers union, said.

In a statement, the company called the action a blockade, adding that it was illegal and that the company’s value chain would be affected. A spokesman did not immediately respond to a request for further comment.

Steel businesses around the world are contending with sharp price tag falls and a large number of job cuts in Mexico happen to be announced previously year.

Global producers seem set for a different year of discomfort in 2016, even as rates commence to stabilize because of production cuts.

Comments

comments