MEXICO CITY, June 17 (Reuters) - An ongoing "illegal blockade" at ArcelorMittal's western Mexico site since the end of May has now held up an estimated 300,000 metric tons of steel, the company told Reuters on Monday.

Workers affiliated with the mining union have been protesting since May 25 against the annual profit distribution to employees decided by the company for 2023, bringing all activities to a halt.

ArcelorMittal recorded a $4.9 billion adjusted net profit last year.

The company told Reuters that labor authorities have not endorsed the strike, which it said had begun before the period for conciliation talks had ended.

"We have been negotiating, there is a dialogue, there have been proposals, an additional bonus was even paid to the workers so they would resume their activities," ArcelorMittal told Reuters.

Mexico's steel chamber demanded in a statement that the protesters "rectify their attitude and respect the channels and procedures provided by law to raise their demands and disagreements."

It added that the work stoppage had a ripple effect throughout the region, as well as on supply chains in Mexico and the United States.

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https://www.reuters.com/markets/commodities/mexico-steelworkers-hold-up-300000-tons-steel-arcelormittal-says-2024-06-17/