Steel producer Ternium reported a 21.4% decrease in second-quarter net profit on Tuesday, as shipments remained flat and steel prices dropped, prompting it to forecast lower core earnings for the current quarter.
Net profit for the second quarter totaled $736 million, down from $936 million in the year-ago quarter.
Profit in the first six months of the year was $1.21 billion, a 33% drop from last year.
China’s December aluminium production grows 4.2%, leading to 2024 output to 1 million tonnes shy of the production cap
