Steel Mills
AHMSA Has Net Loss of $40.3 million in Q3
Written by Sandy Williams
October 31, 2013
Altos Hornos de Mexico (AHMSA) reported a net loss of 520 million pesos ($40.3 million) in the third quarter of 2013, as compared to a net loss of $26.6 million in third quarter 2012.
Sales were 9.475 million pesos ($735.2 million) on shipment of 886,524 tonnes of steel product, down from sales of $751.1 million a year ago.
AHMSA’s $1.5 billion Phoenix Project continues to progress. The Steckel plate mill with an annual capacity of 1 million tons of steel plate or extended roll came online in the third quarter.
The Phoenix Project, which began in 2006, will increase steel production by 40 percent to 4.5 million tons per year. The project includes a blast furnace, an electric arc furnace, a secondary metallurgy cooker oven, continuous casting machine, plate mill and oxygen plant as well as expansion and modernization of iron ore and coal mining facilities.
A blast furnace with a capacity of 1.5 million tons per year was inaugurated in 2011 and in the first quarter of 2013 an oxygen plant began operations producing 1600 tonnes of oxygen daily. AHMSA anticipates beginning operation of the remaining segments of the project by second quarter of 2014.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nucor lowers 2024 output estimate for Brandenburg plate mill
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
SSAB adjusts output in weak Q3, readies for Q4 rebound
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
Topalian puts focus on “unfair” trade, eyes USMCA partners
Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.
Cliffs sees close of Stelco buy, bottom to steel tags, and Mexico out of USMCA
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
Nucor posts lower Q2 earnings, predicts tough Q3 too
Nucor recording lower second quarter earnings on falling steel prices. And the Charlotte, N.C.-based predicted that profits would be lower still in the third quarter, primarily because of weaker results from its steel mills divisions.