Why Ternium Stock Is Tumbling Today
Shares of Ternium (NYSE: TX) were down more than 11% as of 10:45 a.m. EDT on Wednesday following the release of the steel company's third-quarter report.
Ternium shipped 3.1 million tons of steel during the third quarter, about even with Q2. The company shipped more finished steel in the U.S. market, which was offset entirely by lower volumes elsewhere. Ternium noted that while it continued ramping up its new hot-rolling mill in Pesquería, it did so at a slower-than-anticipated pace due to energy-related bottlenecks.
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Source Fool.com
