Steel Mills
March 2, 2019
Section 232 Tariffs Challenge AHMSA
Written by Sandy Williams
Altos Hornos de Mexico, S.A. (AHMSA), the largest steel producer in Mexico, reported that sales for fourth-quarter 2018 rose 6.5 percent year-over-year to $733.2 million. The improvement was due to stronger product mix and higher steel prices. The average steel sales price was $803 per metric ton.
Adjusted EBITDA was $7.0 million, an 85.2 percent decline from $47 million in the prior fourth quarter. Excluding the effect of the tariffs pertaining to Section 232, EBITDA was $27.2 million, a 24 percent decline year-over-year.
