Latin American steel group Ternium has reported earnings before interest, taxes, depreciation and amortization (Ebitda) of only $223.90 million in the second quarter of 2020, on lower shipments to Mexico and Argentina, partially offset by a reduction in costs.
This compared with Ebitda of $302.10 million in the first quarter and $404.60 million in the second quarter of 2019.Steel shipments declined in April mainly because of the Covid-19 pandemic, and have been gradually recovering since then. Ternium's total steel shipments reached 2.45 million tonnes during the quarter, down by 18% from the first quarter's 3 million tonnes and also a drop of...