Ternium Siderar, an Argentinian subsidiary of Ternium, saw its net profit in the second quarter (Q2) of the year drop 65.2 percent, year-on-year, to ARS 435.8 million ($15.8 million), the steelmaker said this week.
Ternium Siderar said net revenues in Q2 rose 55.5 percent, year-on-year, to ARS 13.7 billion ($500.3 million).
Steel sales volumes in Q2 totaled 608,700 mt, up from 600,200 mt in Q2 2017.
The company said most of its steel sales (549,500 mt) in Q2 was destined to the domestic market, while 59,100 mt was supplied to the export market.
As for H1, Ternium Siderar reported a net profit of ARS 2.9 billion ($108.9 million), 4 percent down, year-on-year.
USD = ARS 27.4 (August 2)