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Recently, ArcelorMittal GL E460 steel Long Materials Canada (AMLPC) announced that it will close its wire factory in Hamilton, Ontario and transfer all production operations to Montreal, Quebec. This major decision is closely related to the long-term stability of low-carbon wire prices and the market turbulence within the trading area of the US Mexico Canada Agreement. It is reported that the closure of the Hamilton factory will directly affect 153 employees. According to data from the Iron and Steel Technology Association, AMLPC's wire drawing facility located at the Condecoeur East factory near Montreal has a total annual production capacity of 415000 tons. Wire, especially ductile low-carbon varieties, are important raw materials for wire drawing products. At the GL E460 steel trade level, the operating conditions of Canadian steel manufacturers are becoming increasingly difficult. On May 30th, Trump unexpectedly doubled steel tariffs, which undoubtedly dealt a heavy blow to the Canadian steel industry. Catherine Cobden, President and CEO of the Canadian Steel Producers Association, stated that "urgent actions to support the Canadian steel industry are still ongoing, aimed at stabilizing the domestic market and enhancing the industry's long-term survival in the increasingly severe global trade disruption situation." She also added that relevant solutions are expected to be announced later this month. The AMLPC GL E460 steel factory closure incident reflects the enormous challenges and pressure for change faced by the Canadian steel industry in the current market and trade environment.
