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    Market Segment

    July 7, 2023

    Argentem Creek Looks to Kickapoo Tribe for AHMSA Investment

    Argentem Creek Partners is in negotiations with the Kickapoo Tribe of Texas for a sum of approximately $1 billion dollars to invest in troubled Mexican steelmaker Altos Hornos de México (AHMSA), according to media reports.

     ahmsa logoThe US-based investment fund requested an initial loan of around $200 million from the Kickapoo Tribe, with a pre-negotiated goal of more than $1 billion, according to an article in Spain’s El Pais on July 3.

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    SMU Profile: Worthington’s Gilmore speaks on ‘tough’ market, Kloeckner integration

    Worthington Steel Chief Executive Geoff Gilmore said this is the toughest steel market he's seen in his nearly three decades in the industry. Gilmore, president and CEO of Columbus, Ohio-based Worthington Steel, recently spoke to SMU about the progression of the company’s acquisition of Germany-based Kloeckner & Co, as well as trends he’s seeing in the market and in the service center space. “I've been in the business for 28 years, and this is the toughest market that I've encountered,” Gilmore told SMU.

    Ternium plans February start for new slab mill, sees Mexico prices rising

    Ternium SA expects a modest seasonal decline in consolidated steel shipments in the fourth quarter, but sees Mexico revenue per ton continuing to rise with North American steel price trends. The outlook came as the company released its third-quarter earnings report and prepares to start steel shop production at its new Pesqueria slab mill in February. “We are seeing a strong demand in Mexico … strong demand in the US,” CEO Maximo Vedoya said on a conference call on Wednesday to discuss the quarterly earnings. Ternium reported Q3’26 net income of $368 million, compared with $465 million in Q2’26 and a $270-million loss in Q3’25. Net sales rose 7% sequentially and 17% year over year to $4.6 billion, while steel product shipments increased 5% quarter over quarter to just over 4 million metric tons.

    Steel groups address Democrat gains in midterms

    The Steel Manufacturers Association (SMA) and the American Iron and Steel Institute (AISI) have weighed in on yesterday’s midterm elections that saw Democrats gain control of both the Senate and the House of Representatives. “Last night's elections delivered historic gains for Democrats in Congress,” SMA EVP Brandon Farris said in a statement to SMU on Wednesday. “Thankfully, a strong American steel industry transcends party lines."