Steel Mills

Auction of AHMSA assets is next step in bankruptcy proceedings
Written by Laura Miller
March 7, 2025
An inventory valuation of the assets of Altos Hornos de Mexico SA (AHMSA) has been completed. Local reports suggest an auction for the assets of the bankrupt steel company could come as soon as the end of this month.
Recall that AHMSA was officially declared bankrupt in November 2023. Attorney Victor Manuel Aguilera Gomez took control of the company in December as bankruptcy trustee. On March 4, he submitted his AHMSA asset valuation report to Mexico’s Second District Court for Commercial Bankruptcy Matters.
This marked an important step in the liquidation stage of its bankruptcy proceedings, the company said on March 5.
The trustee’s report provided a detailed record of real estate, machinery, and other assets of the company’s steel operations in Monclova, Coahuila, in northeast Mexico.
AHMSA’s massive steelworks once operated three blast furnaces, an EAF, multiple continuous casters, a hot strip line, two cold strip lines, and tinning equipment. It employed some 20,000 workers and could make up to 5.5 million metric tons of hot- and cold-rolled sheet, plate, and tinplate each year.
Previous reports have suggested the assets, or whatever remains of them, are in rough condition.
A report by Mining Mexico this week suggested an auction of the assets could come as soon as the end of this month. The publication also reported Aguilera Gómez as telling workers in a letter that “Once the inventory and appraisal of the assets have been completed, the next step will be the call for the auction of assets. The announcement is scheduled for the end of March 2025.”
AHMSA noted that the trustee’s inventory valuation of its mining assets, Minera del Norte (MINOSA), is still ongoing. Mining Mexico said the trustee plans to complete his report in the second half of this month.
AHMSA could not be reached for comment.

Laura Miller
Read more from Laura MillerLatest in Steel Mills

Hybar lowers output forecast, owning up to EAF startup delay
Hybar LLC’s rebar mill in Osceola, Ark., is now melting scrap and will soon be fulfilling orders, according to CEO David Stickler, despite a six-to-eight-week delay caused by commissioning the world’s first Aura electrical system.

Steel Dynamics guides to more metal, more money in Q3
Steel Dynamics Inc. is bullish heading into the close of the third quarter, with all three of its operating segments tracking higher.

AHMSA opens doors to potential buyers as $1.3B asset auction nears
AHMSA is opening its doors to potential buyers to tour its steel plant and mining operations in northern Mexico in preparation for the next stage of its bankruptcy process: the auction of its assets.

USW seeks clarity on USS plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.

Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.