Ternium SA is expecting earnings to dip this quarter compared to last as the Latin American steelmaker endures lower prices and slightly higher costs.
In Mexico, Ternium forecasts higher shipments on continued strength in the automotive and white-goods industrial sectors, it said in an earnings statement Tuesday. But in Argentina, the company sees demand headwinds from high inflation, raw material import constraints, an unstable macroeconomic environment and election-related uncertainty.
Ternium’s steel shipments in the second quarter were 3 million metric tons, down 3% sequentially and up 1% from the same period last year.
China’s December aluminium production grows 4.2%, leading to 2024 output to 1 million tonnes shy of the production cap
