Argentinian steelmaker Ternium Siderar reverted an ARS 11 million net loss in Q3 last year and posted an ARS 499.3 million net profit in Q3, the company said.
Siderar’s revenues in Q3 reached ARS 5.9 billion, 6.8 percent up, year-on-year. Steel shipments in the same period rose from 638,300 mt to 641,100 mt in Q3, the Ternium-owned company said.
Siderar said that out of the 641,100 mt of steel it shipped in Q3, 616,100 mt were destined to the domestic market, a 50,900 mt increase in Q3, year-on-year. The company exported 24,900 mt of steel in Q3, down from 48,300 mt a year ago. About 93 percent of Siderar’s exports were destined to Central and South America, while the remaining 7 percent went to Europe and other destinations.
Cost of sales in Q3 reached ARS 4.5 billion, an ARS 803.3 million increase from the same quarter of the year prior, thanks mainly to the rise of the cost per metric ton. An increase in labor and feedstock cost helped the cost per metric ton rise, Siderar said.
USD = ARS 9.54 (November 4)