The United Steelworkers union says it's close to a new four-year labor pact with U.S. Steel...

|By:, SA News Editor

The United Steelworkers union says it's close to a new four-year labor pact with U.S. Steel (X) but that talks with ArcelorMittal (MT) have stalled. MT, which wants to cut wages and benefits for all workers ~36% from an average $77.40/hour, has started preparing its blast furnaces and other facilities for a strike "as a precautionary measure."