Argentina’s Ternium Siderar, the nation’s largest steelmaker, saw its net profit in Q1 rise 37.5 percent, year-on-year, to ARS 2.5 billion ($123 million), the company said this week while releasing its quarterly results.
The steelmaker said net revenues in Q1 increased 55.7 percent, year-on-year, to ARS 12.4 billion ($602.5 million), while steel sales volumes grew 17 percent, year-on-year, in Q1 to 636,900 mt.
Siderar said out of the 636,900 mt of steel shipped in Q1, 589,500 mt was supplied in the domestic market, while 47,500 mt was exported.
Siderar said about 85.2 percent of exports in Q1 were destined to Central and South America and 14.8 percent to Europe and other destinations.
USD = ARS 20.6 (April 27)