Steel Mills
April 26, 2018
Mexico Production Boosts Ternium Results
Written by Sandy Williams
Steel producer Ternium reported shipments of 3.5 million tons in first-quarter 2018, a 3.0 percent increase from the fourth quarter and a 42 percent jump from Q1 2017. Higher steel prices pushed revenue up $45 per ton. Higher shipments were a result of a 160,000-ton increase in Mexico that was offset by a 48,000-ton decrease in other markets due to higher shipments of slabs to Ternium subsidies and the consequent decrease in shipments of slabs to third parties.
Ternium posted total sales of $2.96 billion and net income of $422.1 million, significantly higher than the previous quarter or year.
