Latin American steelmaker Ternium has reported a net profit of $136 million in the third quarter of 2013, rising from a net profit of $134.4 million in the corresponding quarter of the previous year. In the first nine months, Ternium's net profit remained unchanged compared to the same period of 2012, standing at $421.9 million.
Sales revenue decreased by two percent year on year to $2.14 billion in the third quarter, mainly as a result of lower steel products sales in Mexico and other markets, while shipments of flat and long products totaled 2.3 million tons, up two percent year on year.
In January-September, Ternium's sales revenue declined by two percent year on year to $6.4 billion, while shipments of flat and long products amounted to 6.75 million tons, up two percent compared to the first nine months of 2012.
Ternium expects steel shipments to slightly decrease in the fourth quarter of 2013 compared to the third quarter due to the end-of-year seasonal effect. Activity in the industrial sector in Mexico remains healthy, while the country's commercial sector, which is more closely tied to construction, continues to lag. At the same time, steel demand in the ‘Southern Region' (which encompasses the steel markets of Argentina, Bolivia, Chile, Paraguay and Uruguay) remains stable at strong levels, which the company anticipates will continue into the fourth quarter.