This morning in metals news: workers went on strike at the Bradken plant in Atchison, Kansas, last week; Liberty Steel has asked for a massive government bailout in the UK; and, lastly, the copper price retraced last week.
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Workers go on strike at Bradken plant
Workers at the Bradken steel manufacturing plant in Atchison, Kansas, went on strike last week, local news source KQ2 reported.
According to the report, 50-60 workers walked off the job and onto the picket line last week.
The plant uses electric arc AOD technology and has annual capacity of 36,500 tons, according to the company’s website. The plant produces: locomotive rail and transit components and assemblies; mining, construction, industrial and military castings; and general steel castings.
Liberty Steel asks for bailout
On the heels of its financial crisis after the collapse of Greensill Capital, Liberty Steel is looking to the UK government for a bailout.
The steelmaker is asking for a bailout package of £170 million, the BBC reported.
Parent company GFG Alliance employs about 5,000 people in the UK, according to the report.
Copper price dips
The copper price cooled last week, closing the week at $8,918 per metric ton.
The LME three-month copper price had reached $9,086 per metric ton as of last Tuesday before falling.
Copper is down 3.69% over the last month.
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