The Brazilian steel producer, Usiminas, has improved by a minimal margin from its previous proposal for the readjustment of salaries of the 2024-2025 season.
The union, SINDIPA, has called a meeting on February 19 with workers at the Ipatinga plant in Minas Gerais to discuss the proposal. However, local press reported the union has already recommended rejecting it.
The negotiations started in November 2024, without reaching an agreement so far.
The company has proposed a salary increase to offset inflation, despite its 2024 results showing a sharp decline in net profit for the whole year and a net loss in the last quarter.
Usiminas has a production capacity of 4.5 million mt per year at its Ipatinga plant, and a similar capacity at its Cubatão plant, in the state of São Paulo, the latter currently only operating its rolling facilities.
Read more: Alacero hopes to rebuild strategic alliance with US despite tariffs
Vietnam Steel by Hoa Sen Group
