Tata Steel workers in UK suspend strike action
LONDON, July 1 (Reuters) - Tata Steel workers in Britain have suspended a planned all-out strike and overtime ban after the company agreed to negotiations about future investment, the Unite trade union said on Monday.
Around 1,500 Tata Steel (TISC.NS), opens new tab workers at Tata's Port Talbot and Llanwern sites were due to begin an indefinite strike from July 8 over the company's plans to close two blast furnaces and cut up to 2,800 jobs in Wales.
They had already begun an overtime ban on June 17.
"This is a significant development in the battle to protect jobs and the long-term future of steel making in South Wales," Unite general secretary Sharon Graham said.
"It is essential that these talks progress swiftly and in good faith with the focus on fresh investment and ensuring the long-term continuation of steel making in South Wales."
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| Material | Price | Change |
|---|---|---|
| Stainless Seamless Pipe 304 108*4 mm | $ 2185.31 | 49.05 |
| Stainless Scrap 304 Solid | $ 1309.92 | -11.08 |
| Stainless Bar 321 60 mm | $ 2210.14 | 27.90 |
| Stainless Bar 304 60 mm | $ 1969.53 | 22.35 |
| Stainless HR Coil 304/No.1 6.0 mm | $ 1911.47 | 37.93 |