The steelmaker Ternium posted a net profit of $730 million for Q2 2023, against $480 million in the previous quarter.
Under the same comparative basis, net sales increased by 7 percent to $3.871 billion, while operational profit increased by 105 percent to $732 million.
By volume, shipments of steel products declined by 3 percent to 2.982 million mt in Q2, while iron ore shipments increased by 9 percent to 867,000 mt.
The regional distribution of shipments during the third quarter has Mexico as main player (2.03 million mt), followed by South America (563,000 mt) and other regions (388,000 mt).
Controlled by the Techint group, Ternium has production facilities in Mexico, Argentina, Brazil, Colombia, Guatemala and the US.
According to the company, the third quarter of 2023 will be the first quarter when it will consolidate the results of Brazil’s Usiminas in its financial results. The company added that such results will be materially different from the previous quarters, quoting as example that Usiminas reported in Q2 2023 972,000 mt of steel sales and 2.4 million mt of iron ore sales.