Ternium posts 77% quarterly income boost as steel shipments jump
© Reuters. The logo of the steelmaker Ternium, who turned a gym into a centre to receive patients suffering from the coronavirus disease , is pictured outside its plant, in Monterrey, Mexico April 11, 2020. REUTERS/Daniel Becerril/File Photo
In a statement, the company said steel shipments during this year's third quarter shot up nearly 40% to total 4.1 million metric tons. A leading regional producer of flat steel products for a range of industries, Ternium is controlled by Argentina's Techint Group.Ternium added that it anticipates steel revenue per metric ton to decrease in the fourth quarter, which it said reflects lower prices in Mexico and Brazil.
Shipments to Argentina are also seen falling in the fourth quarter, due to expected seasonal factors but also to government-imposed restrictions on imports.
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