SMU Data and Models
Ternium Records Skinnier Q4 Profits, Predicts Better '23
Written by Michael Cowden
February 15, 2023
Ternium recorded narrower profits in the fourth quarter on lower steel prices and higher costs.
The Luxembourg-based steelmaker, which operates primarily in Latin America, said it expected results to improve in 2023, echoing the comments of its competitors in their recent earnings releases.
Ternium’s earnings financial results are in the table to the left. The company shipped 3.3 million short tons (3 million metric) tons in the fourth quarter, up 2% from the third quarter and up 7% from the fourth quarter of 2021.
Ternium said it shipped nearly 2.1 million short tons (1.9 million metric tons) in Mexico in the fourth quarter, its best shipping quarter ever in that market. The gains were driven by restocking and by market share gains.
The company said that 2022 started out strong but that prices fell and costs rose in the second half of the year. It expects those trends to “gradually reverse … over the next few quarters,” according to commentary released with fourth-quarter and full-year 2022 earnings data on Tuesday, Feb. 14.
Ternium predicted better times in the first half of 2023, in particular in Mexico, thanks to recovering steel prices and continued restocking.
The company also sees better industrial demand in Mexico this year. It expects that trend to be amplified by new business resulting from “nearshoring” of manufacturing capacity to North America.
By Michael Cowden, michael@steelmarketupdate.com
Michael Cowden
Read more from Michael CowdenLatest in SMU Data and Models
Apparent steel supply increases in June
The amount of finished steel coming into the US market increased 3% from May to June, climbing to one of the highest rates seen in recent years, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data
SMU Survey: Modest improvement in Sentiment Indices
Both SMU Sentiment Indices continue to show that buyers remain optimistic for their company’s chances of success, though far less confident than they felt earlier in the year.
SMU flat-rolled market survey results now available
SMU’s Aug. 8, 2025, steel buyers market survey results are now available on our website to all premium members.
SMU’s July at a glance
SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through July 31.
SMU Survey: Mills maintain short lead times on sheet
Mill production times for sheet products are holding just above multi-year lows, while plate lead times remain elevated.