Mexico's manganese and ferroalloy producer Minera Autlan said this week in a filing to the nation's stock exchange, Bolsa Mexicana de Valores, that it expects an 8 percent decrease in sales in Q2, year-on-year.
“Both the nation and the global steel industries are being affected mainly by the overcapacity of China, which is exporting its surplus of steel with subsidies and at dumped prices to all the world, affecting down the quotation and production volumes,” Autlan said.
“Consequently, being the steel its main market, the price of manganese ferroalloys have also been impacted in North America,” the statement continued, adding that the decrease in sales is a result of such a scenario.
Autlan also said it expects EBITDA in Q2 will slightly increase 2 percent, year-on-year, due to several operational efficiencies and cost reductions the company was able to achieve in the period.