Ternium reports sales and income boosts for 2018

Luxembourg-based steelmaker Ternium, which produces much of its steel in Central and South America, has reported sales and income increases for its 2018 fiscal year.

The company says its operating income of $2.1 billion represents a 45 percent increase over the prior year, while its net income figure rose by 62 percent and its net sales increased by 18 percent.

Ternium cites strong steel market prices in Mexico and the consolidation of its Ternium Brasil operations as factors in the improved results.

For 2019, the company forecasts global steel demand that will show slightly positive growth and margins that might “normalize” in 2019 after a “very strong 2018.” The company also states, “Global steel overcapacity continues to be a risk to fair trade, as steel production in China continues to increase and its economy is decelerating.”