Steel Mills
Ternium Reports 3Q Net Income of $136 Million
Written by Sandy Williams
November 6, 2013
Latin American steel mill Ternium reported net sales of 2.14 billion on shipments of 2.3 million tons of steel and 930 thousand tons of iron ore. Steel shipments were up 4 percent from second quarter and 2 percent from third quarter 2012. Iron ore shipments were down 24 percent from second quarter but up 106 percent from Q3 2012. Net income for the quarter was $136 million.
Net sales for the first nine months of 2013 were $6.4 billion on shipments of 6.7 million tons of steel and 3.2 million tons of iron ore. Steel shipments were up 2 percent from 2012 and iron ore shipments rose 138 percent. Net income for the first nine months was $421.9 million. Iron ore shipments include Ternium’s interest in the January 1, 2013 consolidation of Exiros and Pena Colorado
In their fourth quarter outlook, Ternium said it expects steel shipments to decline during the fourth quarter due to seasonal factors. Activity in Mexico’s industrial sector remains healthy while the commercial sector and construction remains stagnant. The demand for steel in the Southern Cone of South America is showing stable, solid levels and it is anticipated to remain so during the fourth quarter.
Ternium is a manufacturer of flat and long steel products with production centers in Argentina, Mexico, Colombia, Guatemala and the U.S.
Sandy Williams
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