Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) plans to urge new left-wing president, Manuel López Obrador, to protect the local steel market.
A media report by Posta said the president of AHMSA's administration council, Alonso Ancira Elizondo, said the company is willing to “work" and move improve prospects for the local steel industry with the new president.
Despite not meeting Obrador, Elizondo said he met people close to the president, who promised to support the Mexican steel sector. Talks with the president’s representatives indicated the government’s confidence the US will show a “better attitude” over the existing steel tariffs under Section 232.
Elizondo is demanding the Mexican government take reciprocal measures over US steel imports if the North American partner does not lift existing duties. In mid-November, Mexican industrial trade group Concamin and local steel association Canacero urged the local government to take “urgent” actions to protect the Mexican steel sector. In a joint letter at the time, the two trade groups urged in an “urgent” way Mexico to “intervene” in what they labeled as an “unsustainable situation."
The AHMSA executive said the company will keep working to add value at its finished steel products, as a way to improve margins.