Ternium Sees Strong Market Growth in Mexico

Ternium has strong confidence in the growth potential for the Mexican steel industry. Despite a poor performance by the government in helping the economy recover from the impact of the pandemic, CEO Maximo Vedoya expects the industrial base will continue to grow. One of the drivers will be reshoring of the supply base, which will add to steel consumption. Reshoring is happening in the U.S. and Mexico with Mexico having a very strong competitive advantage.

Steel consumption in Mexico, currently at 160 kilograms per inhabitant, is very low but will increase as the country develops, said Vedoya. Mexico has very low debt compared to other countries, which will be beneficial for building and improving infrastructure.