China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
A strike at Shougang Group’s iron ore mine in Peru by workers demanding higher pay has forced the company to declare force majeure on its shipments but has not reduced output, the mine’s manager said on Monday.
Some 800 workers, including at the port San Juan de Marcona, have taken part in the indefinite strike after negotiations over a new contract broke down, manager Raul Vera said. “They’re asking for a high wage hike,” Vera said by phone.
(By Teresa Cespedes; Editing by Tom Brown)
