Mexican ferroalloy company Minera Autlan announced that it will suspend operations at its plant in Gomez Palacio, Durango, in northern Mexico, due to unfair competition from Chinese steel imports in Mexico.
In a statement sent to Mexican Stock Exchange (BMV), the firm revealed that in July 2015 it had suspended operations for maintenance, but because of the difficult conditions in the steel market, in particular the unfair practices Autlan faced in the domestic market last year by various countries supplying ferroalloys, the Company decided not to reopen it.
“Despite Autlan starting efforts several months ago to correct the dumping practices that hit the ferroalloys market severely, legal procedures are lengthy and market conditions have not yet been corrected so we felt the need to extend indefinitely the suspension of operations from that date to lower costs and offer the best possible price without compromising the financial standing,” the firm explained.