Steel Mills

Ternium Reports Strong First Quarter Performance
Written by David Schollaert
April 26, 2022
Ternium reported net earnings of $877.5 million in the first quarter of 2022, down from $1.14 billion in the prior quarter but up 24.2% from $706.7 million in the first quarter of 2021.
The Latin American flat-rolled steelmaker posted first quarter net sales of $4.30 billion, a 32% compared to the first quarter of last year but down 1% compared to the fourth.
Shipments during the first quarter totaled 2.95 million tons, up 4% sequentially, but down 5% compared to the same year-ago period when shipments reached 3.10 million tons. Revenue gains resulted from higher steel prices, the company said.
Lower shipments versus year-ago totals were because of lower slab volumes shipped to third parties. Ternium’s slab facility in Brazil shipped more slab to the company’s downstream facilities because the steelmaker is prioritizing integration.
Higher earnings are expected in the second quarter thanks to increased steel prices and higher shipments, the company said in its outlook commentary released with earnings data on Tuesday, April 26.
Despite the anticipated improvement in Q2, Ternium cautioned that business conditions and global steel supply chains remained volatile because of “recent wave of international sanctions against Russia.”
“An upsurge in steel prices compared to their prior declines … together with the beginning of a monetary tightening cycle in the largest western economies, should result in an increased level of market volatility over the near term in 2022,” the company said.
Ternium has operations in Mexico, Brazil, Argentina, Colombia, the southern United States and Central America. It offers a broad range of value-added steel products for automotive, appliance, HVAC, construction and other manufacturing sectors.
By David Schollaert, David@SteelMarketUpdate.com

David Schollaert
Read more from David SchollaertLatest in Steel Mills

USW seeks clarity on 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.

ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).

Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!

AISI: Domestic steel production ticks up
US raw steel production ticked up in the week ending on Sept. 6 after a decrease the week before, according to the most recent data from the American Iron and Steel Institute (AISI).