Ternium Believes Steel Prices Could Drop Another $20 During 4th Quarter

Ternium reported earnings for the 3rd quarter 2014 this week. Ternium is a large steel producer in Mexico, which accounts for 60 percent of the company’s shipments, as well as Argentina which accounts for 24 percent. Ternium also owns a conversion mill in the United States which produces galvanized and Galvalume products along with prepainted steels.

Ternium reported EBITDA of $423 million in third quarter 2014 that included an insurance recovery in connection with facility damages in Argentina. Net sales were up 1 percent sequentially to $2.2 billion on shipments of 2.3 million tons. Improvement was attributed to slightly higher revenue per ton and stable shipments.