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Ahmsa sales fall on ‘unfair steel practices’

Keywords: Tags  Mexican steel, Altos Hornos de Mexico, Ahmsa, financial results, 2012, Alonso Ancira Elizondo, Canacero, Nafta Rodrigo Alonso

MEXICO CITY — Mexico’s Altos Hornos de México SAB de CV (Ahmsa) saw sales fall 3.9 percent in 2012 compared with the previous year on what it called “unfair steel practices.”
Revenue totaled 39.22 billion pesos ($3.06 billion) in 2012, the company said in a Feb. 28 filing with Mexico’s stock exchange. Net income fell to 408.4 million pesos ($31.9 million), and earnings before interest, taxes, depreciation and amortization (Ebitda) totaled 3.69 billion pesos ($288.1 million).
The financial results “reflect adverse market conditions by importing large volumes of steel in unfair conditions, and downward prices,” Ahmsa president Alonso Ancira Elizondo said.
Unfair trading practices have been the biggest problem affecting Mexican steelmakers, Mexican steel association Canacero said.
Ancira Elizondo, also president of Canacero, urged the government to adopt safeguarding measures to control steel imports, primarily from outside the North American Free Trade Agreement region—imports from outside the region rose 170 percent year on year in 2012.
Some steel products are subject to a temporary 3-percent tariff, but Mexican mills want higher levels.
A version of this article was first published by AMM sister publication Steel First.

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