AHMSA’s production declines due to US Section 232 tariffs

Friday, 14 December 2018 22:51:35 (GMT+3)   |   San Diego
       

Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) might lose jobs due to US Section tariffs, according to a media report from Vanguardia. The president of AHMSA’s board, Alonso Ancira Elizondo, reportedly said the tariffs have impacted about 25 percent of the steelmaker’s steel production, or about 400,000 mt.

AHMSA is trying to recover the lost production by seeking other markets, including selling specialty steel, but Elizondo said the process takes time. He added that AHMSA missed about $200 million in revenues in Q3 due to the US Section 232 tariffs. He did not specify how many jobs AHMSA could lose if the tariffs continue, and urged Mexico to impose “mirror” or reciprocal measures.


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