Spanish stainless steel giant will keep its facilities closed for a while

Due to ongoing worker strikes, Acerinox Group, headquartered in Spain and one of the world leaders in stainless steel production, plans to keep its facilities temporarily closed.

Although Acerinox, which has a melting capacity of 3.5 million tons, trades the products it produces through a wide commercial network covering more than 80 countries, it has been reported that the workers' strike, which has been going on for a while, started due to disagreements in the context of the new collective bargaining agreement. It was stated that the strike continued since February 5 and the national A-7 highway between Algeciras and Malaga was closed for approximately 6 hours due to striking workers.

Sources stated that a fire broke out at Acerinox Group's facilities in the city of Los Barrios, which did not cause serious consequences, and that the company suspected arson.

Sources speaking to SteelRadar stated that the company achieved a revenue of 6.6 billion EUR and a net profit of 228 million EUR in 2023, resulting in a serious EBITDA of 703 million EUR. While the company has an important place worldwide, it is wondered how it will affect the steel market if it closes its facilities due to a strike.