ArcelorMittal, the world’s largest producer of steel, will cut 2,800 jobs at its Mexico unit as global prices slump, it said in a joint statement with local competitors on Wednesday, July 1st, while accusing Russia, China and Turkey of dumping steel on markets at levels below production costs.
ArcelorMittal is the world’s leading steel and mining company. Guided by a philosophy to produce safe, sustainable steel, it is the leading supplier of quality steel products in all major markets including automotive, construction, household appliances and packaging. ArcelorMittal is present in 60 countries and has an industrial footprint in 19 countries including Mexico.
Altos Hornos de Mexico (AHMSA), DeAcero and ArcelorMittal warned in the statement that if Mexico continues to import steel products at what it called dumping prices (specifically from China), the number of job cuts will rise.
AHMSA said in June it would cut its workforce by 20 percent, around 4,500 jobs, and suspend investments. DeAcero said it had fired 2,500 workers and suspended operations at one plant.
The price of steel in the international market went down from 1,260 to 934 USD per tonn, which means a reduction of 26% of its value.
(Reporting by Gabriela Lopez; Editing by Ken Wills)
more recommended stories
Campeche and Yucatán present at Expo ANTAD 2018
Exhibitors that participated in Expo ANTAD.
Mexican women mobilize against sexist violence
In hat and police suit, with.
Hubikú Ecopark: nature, gastronomy and Maya tradition in one place
Located in the municipality of Temozón,.
US State Department removes restrictions for Playa del Carmen
The US State Department through their.
Canadian WestJet launches new Mexico City direct flights
Canadian carrier WestJet is now offering.
Poll suggests Mexico’s Presidential Race is getting tighter
According to Bloomberg, Mexico’s presidential candidate Andres.
Russian expert says: the Maya “will surprise the world”
“The investigation of the Maya codex.
Man threatens a woman with a knife in front of “La Ermita”
According to locals, on Thursday March.
Tourism in Mérida keeps booming prior to Semana Santa
“Yucatan stands out as spearhead in.
Mérida and Athens, Greece about to work together in urban mobility program
Urban Mobility and Citizen Participation in.