Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) saw its net loss increase from MXN 2.26 billion ($106.7 million) in Q3 2019 to MXN 5.62 billion ($265.2 million) in Q3 this year.
The company reported an EBITDA loss of $58 million in Q3 this year, up from its previous EBITDA loss of $45 million in Q3 last year. Net revenues in Q3 this year fell 50.7 percent, year-over-year, to MXN 5.81 billion ($274.3 million).
AHMSA said unstable steel prices in the global market in the past few years plus Section 232 decreased the company’s demand and steel selling prices, affecting the company’s cash flow and operational results.