Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

ArcelorMittal May Cut Coal From JSW; BP Goes To The Mattresses

Published 02/17/2015, 01:10 AM
Updated 07/09/2023, 06:31 AM

Steel producer Arcelormittal (NYSE:MT)‘s Polish arm said on Wednesday it might reduce coal supplies from Polish miner JSW Steel Limited (NSE:JSTL) to limit the risk of delivery disruptions if workers’ protests at JSW recur, Reuters reported.

Coal production has stopped at JSW as a result of a miners’ strike, which started on Jan.28, hitting ArcelorMittal, one of its biggest customers, which ceased to receive a significant chunk of supplies.

Meanwhile, US oil refinery managers are sleeping in trailers on recently purchased mattresses during the biggest fight with union workers in 35 years. The managers bedded down for a third strike week this weekend and experts and some employees say safety and operations could be compromised.

At the 135,000 barrel-per-day refinery just outside of Toledo, Ohio, run by BP Plc (NYSE:BP) and Husky Energy Inc Cad (OTC:HUSKF)., most of the nearly 300-person staff have been calling the refinery home since Feb. 9. For the last week, they have slept on recently purchased mattresses inside rental trailers to rapidly respond to any problems and avoid striking workers, sources say.

The United Steelworkers strike is the largest against oil refiners since 1980.

In yet another strike, about 3,000 locomotive engineers and conductors at the Canadian Pacific Railway walked off the job Sunday morning in a dispute over wages and benefits.

Although the company said it would try to maintain some service by using managers, the strike is likely to disrupt major industries throughout North America, including automakers, oil companies, paper businesses, lumber suppliers and agriculture and mining companies.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

In a news release issued immediately before the strike, the Teamsters Canada Rail Conference suggested that disagreements on rest time and other scheduling issues had led to the breakdown in negotiations.

by Jeff Yoders

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.