04
Jun
01:00
AHMSA announces layoffs and reduced output as imports bite
Mexican steelmaker Altos Hornos de Mexico (Ahmsa) has announced that it will reduce both its output and workforce by 20%, Kallanish learns from a filing to the Mexican Stock Exchange (BMV). The company will also suspend its $250 million investment program.
The decision follows a -40% drop in steel product prices that Mexican manufacturers have seen in the last five months, and the -70% fall if compared to 2008 levels, Ahmsa says in its filing.
Accordi…
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Anonymous
Very good overview of the weekly steel market.
Anonymous