Latin America focused steelmaker Ternium reported that net revenues in Mexico in Q3 fell 20 percent, year-over-year, to $1 billion. The company’s other markets segment saw revenues in Q3 declined 15 percent, year-over-year, to $508 million.
On the other hand, the Southern Region segment, which includes mills in Argentina, Bolivia, Chile, Paraguay and Uruguay, the company posted revenues of $495.6 million in Q3 this year, 14 percent up, year-over-year.
Steel shipments in Mexico in Q3 decreased 11 percent, year-over-year, to 1.44 million mt. Steel shipments in the Southern Region segment in Q3 this year improved 9 percent, year-over-year, to 547,000 mt.
Ternium said net profit in Q3 was $173 million, up from $111.9 million in Q3 2019.