Following ArcelorMittal’s suspension of operations at its Lazaro Cardenas slab plant, the company announced Wednesday that it will partially resume production, depending on the demands of customers.
"The temporary shutdown of production at our plant in Lázaro Cárdenas is the result of unsustainable levels of imports from Russia, which has been more aggressive in its exports to Mexico,” the company said in a statement.
"ArcelorMittal Mexico will continue to focus on processing costs, including aligning working hours per ton of steel produced with global standards of productivity,” the statement continued.
The company announced the work stoppage last Friday after warning the Ministry of Economy that the enormous growth of imports and the fall in iron ore prices would cause financial loss to the company this year.
For these reasons the company suspended 60 percent of its operations, specifically in the area of slab production, while the long product line remained in operation, according to information released by the company.