On November 30, 2022, the largest Mexican steelmaker Altos Hornos de México (AHMSA) suspended its production due to the power cut made by the Federal Electricity Commission. In other words, up to today, AHMSA has already completed 160 days without producing steel.

In fact, after the power cut in November 2022, AHMSA still had some raw material reserves that allowed it to continue manufacturing some metal; however, after December 24 last year, the company interrupted its steel production and did not resume again.

At the beginning of June this year, AHMSA still lacks the capital to pay the workers and debt to the Mexican government, which is between US$172.76 and 287.93 million. That is why there is no possibility of AHMSA being able to resume production soon.