Ternium, a Luxemburg-based steel maker that runs steel and mining operations in Latin America, has reported its consolidated financial results for the first half of 2020 (1H20). It managed to deliver a net profit of US$24 million, which was down 94% year-on-year (y/y). The plunge is attributable mainly to lower sales volume and prices resulted from the COVID-19 pandemic, though the loss was partly offset by the appreciation of the Mexican peso and Brazilian real against the US dollar in the foreign exchange market.
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