Top steelmaker ArcelorMittal halts US plant

PARIS: ArcelorMittal, the world's biggest steel producer, said on Wednesday it would halt production at a plant near Chicago and would cut jobs there because of the slump in the global metals sector.

"As a result of current market conditions, ArcelorMittal will indefinitely idle operations at the company's Indiana Harbor Long Carbon facility" in the United States, the Luxembourg-based company said in a statement.

The company alerted the United Steelworkers trade union that there would be "a significant layoff of employees" at the facility within 60 days.

"This was a difficult decision to make, but the company is being forced to respond to the extraordinary economic environment we are facing," it added.

The company did not give a number but local media reported that the number of jobs cut could be 400 out of a total 5,000 employees at the plant.

ArcelorMittal this month announced major temporary production cuts in Europe because of the crisis, with a French trade union official saying this meant the group would slash output by more than half from the end of April.