It is reported that the strike over wages at ArcelorMittal's Lázaro Cárdenas steel mill in Michoacán in Mexico has ended following an agreement to raise wages.
As per reports, workers will return to work at the plant later this week after the company and workers at the mill agreed on an eight percent wage rise. Since the strike began in mid-August, the negotiations to resolve the labor dispute have remained deadlocked and crude steel, longs and flats production at the mill have all been impacted by the strike.
Lázaro Cárdenas' daily production capacity is 9,700 mt of steel slabs and 4,600 mt of billet, rebar and wire rod. The company has used its stocks over the past month to meet client orders.
ArcelorMittal has the capacity to produce around seven million mt of steel per year in Mexico, with some 80 percent of that produced at the Lázaro Cárdenas plant.