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
Read more from Sandy WilliamsLatest in Steel Mills
Nucor lowers 2024 output estimate for Brandenburg plate mill
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
SSAB adjusts output in weak Q3, readies for Q4 rebound
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
Topalian puts focus on “unfair” trade, eyes USMCA partners
Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.
Cliffs sees close of Stelco buy, bottom to steel tags, and Mexico out of USMCA
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
Nucor posts lower Q2 earnings, predicts tough Q3 too
Nucor recording lower second quarter earnings on falling steel prices. And the Charlotte, N.C.-based predicted that profits would be lower still in the third quarter, primarily because of weaker results from its steel mills divisions.