Steel Mills
Sales Up 2% at Ternium
Written by Sandy Williams
April 30, 2014
Latin American steelmaker, Ternium, turned in a positive quarter with net sales up 2 percent to $2.149 from fourth quarter and 1 percent from Q1 2013. Net income was $188.2 million compared to $174.7 in the fourth quarter, and $164 million in Q1 2013.
Ternium net steel sales increased 1% to $2,149.4 million. Operating income increased to $319 million, an increase of 8 percent sequentially and 13 percent y/y, as a result of improved steel shipments and operating margins, partially offset by lower revenue per ton. Lower raw material costs were partially offset by lower steel prices in the Southern Region.
Ternium expects improved shipment levels in Mexico during the second quarter. The ramp up of the new Pesqueria facility is progressing as planned and Tenigal is advancing in its certification process with Mexican auto makers.
Shipments in the Southern region were lower due to seasonal demand. Uncertainty in Argentina’s macroeconomic environment may affect steel consumption in the coming quarters. Steel prices in Argentina were down from first quarter and are expected to be unchanged in Q2.
Higher raw material and purchased slabs costs are expected to offset increases in shipments in the second quarter reducing operating income slightly.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Algoma fires up EAF steelmaking with first arc
Algoma Steel reached a milestone in its transformation from blast furnace to electric arc furnace (EAF) steelmaking, with its Unit One EAF achieving its first steel production this week.
Nucor holds HR list price at $910/ton
Nucor is keeping its list price for spot hot-rolled coil unchanged after last week’s shortened holiday week.
Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.