Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Mexican steelmaker Industria CH (ICH) saw its steel sales decrease in both volume and value on lower demand from commercial and special steel products.


Steel sales in H1 decreased 1pc by volume and 12.1pc by value to 1.29mn mt worth MXN17.8bn ($810.6mn), from 1.34mn mt valued at MXN20.3bn in H1 2019. However, the company did not disclose its total crude steel production volume in its earnings statement released this week.


Domestic sales fell 14pc in value to MXN9.2bn in the first six months, from MXN10.8bn in H1 2019, while international sales also fell by value 11pc to MXN8.5bn, from MXN9.5bn in same period comparison. 


For the Quarter Ended June 30th,2020.


In Q2, the company saw its sales decrease in volume by 10pc to 589,000mt, from 655,000mt in Q2 2019, and value fell by 16pc to MXN8.3bn in the second quarter, from MXN9.5bn in Q2 2019. 


Domestic sales fell by value 25pc to MXN4bn in Q2 over MXN5.4bn in prior year period, while international sales also dropped 9pc to MXN4.1bn, from MXN4.5bn in same period comparison.


ICH reported a net profit of MXN521mn in Q2 2020, up by 12pc from $466mn in same quarter last year. EBITDA reached MXN1.4bn in Q2 2020, up 2pc from MXN1.3bn in Q2 2019.


(1$ = 22.08MXN)

Leave a Reply

Your email address will not be published.