[Ferro-Alloys.com] The Telegraph reported that British Steel bidder Jingye is set to axe 400 jobs at the embattled firm's Scunthorpe plant as it closes in on a takeover. According to the Daily Telegraph, Jingye has started sending out new contracts to staff detailing updated terms and conditions but 10 per cent of the workforce will not be getting an offer. The new contracts come after an agreement was reached with unions over employee pay, terms and conditions last month seen as a big step towards completing the sale of the Scunthorpe-based steel giant.

The Latin American association Alacero announced that in a market weakened by the loss of competitiveness and consumption, derived from the high cost of the domestic market and unfair competition, Latin America saw its production of crude steel in December fall by 12% compared to the same month of 2018, summarizing 4.499 million tonnes. The annual balance in Latin America was negative, with a result of 9% lower than that observed in 2018 (5.704 million tonnes). Brazil was primarily responsible for this figure (56%), followed by Mexico (30%), which registered its worst indicator in almost 4 years. Argentina also contributed (9%).

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