Steel Mills
February 19, 2014
Ternium Reports Strong Q4 2013
Written by Sandy Williams
Latin America steel producer Ternium reports net sales of $2.1 billion on 2.23 million tons of steel shipments and 994,000 tons of iron ore shipments in the fourth quarter 2013. Steel shipments were down 3 percent from third quarter but up 3.0 percent from fourth quarter 2012. Net income was $171.1 million, up from $136 million in the third quarter. Operating income increased to $295.6 million due to higher steel revenue per ton in Mexico and other markets and a slight reduction in operating cost per ton.
Net income for 2013 was 592.9 million, up from $402 million in 2012. Steel shipments for the year were up 3 percent to 8.9 million tons while iron ore shipments increased 128 percent to 4.2 million tons.
