This Morning in Metals: Union workers at Ilva steel plant to go on strike over reported job cuts plan
This morning in metals news, workers at Italy’s Ilva steel plant will go on strike to protest a reported job cuts plan by plant owner ArcelorMittal, Alcoa has begun to lay off workers at its Ferndale, Washington aluminum smelter and President Donald Trump renewed a previous threat to impose tariffs on automobiles imported from the E.U.
Ilva workers to go on strike this week
Workers at Italy’s Ilva steel plant plan to go on strike Tuesday to protest reported plans to cut 5,000 jobs, Reuters reported.
Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!
ArcelorMittal reached a deal to take over the struggling plant in 2018 before announcing late last year that it would relinquish the steelmaker back to the state; however, the steelmaker eventually suspended those plans in March.
Layoffs begin at Alcoa’s Intalco smelter
Earlier this year, Alcoa announced it would shut down its Intalco aluminum smelter near Ferndale, Washington, impacting approximately 700 jobs.
Late last week, the Seattle Times reported Alcoa had begun to lay off dozens of workers at the aluminum smelter.
Trump threatens E.U. with auto tariffs, again
Renewing a previous threat, President Donald Trump last Friday indicated he would wield his tariff authority if the E.U. and China do not remove their tariffs on U.S. lobsters, the Financial Times reported.
Lower your metal spend. Trial MetalMiner’s monthly metal buying outlook now.
Trump indicated he would slap tariffs on automobiles from the E.U. if it does not remove the tariffs on lobsters from the U.S. In March 2018, the Trump administration launched a Section 232 investigation covering imported automobiles; however, the deliberation period laid out by the statute came and went without the imposition of automotive tariffs from the administration.
Leave a Reply