Ternium SA, Latin America’s leading steel company, is forging ahead with its growth plans amid concerns over China’s unfair competition. CEO Máximo Vedoya highlighted the challenges posed by China’s steel exports, as global markets grapple with protectionism.
Despite the tough landscape, Ternium sees opportunities and is increasing investments in Mexico. The country’s anti-dumping measures aim to safeguard its manufacturing sector, supported by Ternium’s growth.
Brazil is also stepping up efforts to protect its steel industry. This shift signals a growing awareness of the need to protect domestic manufacturing against external pressures.
Vedoya emphasized Ternium’s commitment to Mexico, focusing on creating jobs and driving growth in the region. The company is well-positioned for nearshoring opportunities as businesses look to shift supply chains closer to home.
Mexico’s Economic Outlook
Vedoya stressed the importance of clear rules for private investment and increased infrastructure spending to support growing demand. The new Mexican government faces crucial challenges, including the need to invest in renewable energy and improve infrastructure for economic growth.
Despite challenges, Vedoya remains optimistic about Mexico’s potential in the nearshoring trend. Ternium’s strategic approach mirrors Latin America’s shifting stance in the global steel competition landscape.