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    Mexico

    March 2, 2023

    Majority of AHMSA Shares Sold to Foreign Investors, Reports Say

    A majority of shares in Mexican steelmaker Altos Hornos de México (AHMSA) has been sold to a group of foreign investors, according to reports in the Mexican press.

    Shareholders of Grupo Acerero del Norte signed an agreement to transfer the majority of AHMSA shares to the group of foreign investors, an article in Milenio said on March 1. The deal aims to recapitalize AHMSA and provide for the future development of the company.

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    US steel imports reach 15-month high in August, rise further in September

    Steel imports into the US crept higher in August and continued climbing in September, according to the Department of Commerce's latest import license data. August imports rose 3.4% from July to a 15-month high. September license data collected through Oct. 5 shows another 6.2% month-on-month increase. Imports continue to recover from some of the lowest levels since 2020, seen late last year through February this year.

    Price on Trade: Milwaukee Framework is a step forward on steel excess capacity

    Members of the Global Forum on Steel Excess Capacity (GFSEC) met in Wisconsin last week and unveiled an updated plan to combat market-distorting excess capacity. The Milwaukee Framework adds color to the 2017 “Berlin Principles.” It is also a positive step in the ongoing battle against global steel market distortions. However, the Framework is only a guidepost. It must be implemented correctly to make an impact as new problems loom.