Luxembourg headquartered seamless pipe leader Ternium SA announced that its steel shipments in January-March 2022 quarter reached 3.0 million tonnes, up 4% sequentially. In Mexico, volumes in the first quarter increased 12%, partially recovering from the decrease recorded in the fourth quarter 2021. This sequential increase in Mexico in the first quarter 2022 was partially offset by seasonally lower shipments in the Southern Region. On a year-over-year basis, shipments in the first quarter 2022 decreased 5% on weaker volumes in Mexico and the Southern Region, partially offset by slightly higher shipments in other regions. The volume of slabs shipped to third parties decreased on a sequential and year-over-year basis in the first quarter 2022, as Ternium further integrated the company's slab facility in Brazil.Revenue per ton in the first quarter 2022 was USD 1,427, down 5% from record revenue per ton in the fourth quarter 2021. Revenue per ton decreased sequentially in Mexico and the Other Markets region reflecting declining steel prices. In the Southern Region, revenue per ton remained relatively unchanged. On a year-over-year basis, revenue per ton in the first quarter 2022 increased USD 403, reflecting higher steel prices in all of Ternium’s steel markets.Operating income in the first quarter 2022 reached USD 1.1 billion with EBITDA of USD 1.2 billion. EBITDA per tonne in the period was down USD 122.8 sequentially to USD 409.5, due mainly to lower realized steel prices and higher raw material costs. On a year-over-year basis, EBITDA per ton increased USD 68.3 in the first quarter mainly as a result of higher realized steel prices partially offset by higher costs of purchased slabs and raw materials. The company’s net income in the first quarter 2022 was USD 877.5 million.Outlook - Following strong performance during the first quarter of 2022, Ternium expects EBITDA to sequentially increase in the second quarter of the year as a result of higher EBITDA margin, primarily due to an increase in realized steel prices, together with further growth in shipments. In Mexico, the company expects steel shipments to continue recovering in the second quarter, in part due to commercial market restocking after a significant decline in the fourth quarter of 2021. Industrial customer demand remains healthy. Demand from the automotive industry, which continues to suffer from order backlogs resulting from supply chain constraints, is gradually improving. In Argentina, the company anticipates shipments to slightly increase in the second quarter of 2022, following a seasonally slow first quarter of the year. Although steel demand in the auto, construction, agribusiness and energy sectors remains healthy, uncertainty lingers on in this market, mainly due to a challenging macroeconomic situation.Ternium is Latin America’s leading flat steel producer, with operating facilities in Mexico, Brazil, Argentina, Colombia, the southern United States and Central America. The company offers a broad range of high value-added steel products for customers active in the automotive, home appliances, HVAC, construction, capital goods, container, food and energy industries through its manufacturing facilities, service center and distribution networks, and advanced customer integration systems.