Leading Chilean steel mill closes amid competition from cheap Chinese steel

by time news

2024-09-16 04:56:27

About 2,500 workers of the main steel works of Chile will lose their jobs from Monday, September 16. Two blast furnaces in the Huachipato plant, in the south of the country, must be shut down ” for an unlimited time” and may not restart. The company should keep only one hundred employees for additional services. It does not oppose competition from low-cost Chinese steel which has flooded the Latin American market in recent years.
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