Ternium Sees Lower Prices in 2H, Higher Floor

Ternium thinks that North American steel prices might move lower later this year but that they will bottom at a new, higher level than in previous cycles, the company’s top executive said.

“Prices are probably going to begin a downtrend at some point during the second half. But I don’t expect this to be a very profound downturn,” Máximo Vedoya, CEO of the Latin American steelmaker, said during a conference call with analysts on Wednesday, Aug. 4.

Michael Cowden

Michael Cowden is managing editor for Steel Market Update. Cowden has covered the steel industry since 2007. He has since 2014 specialized in flat-rolled steel but has previously reported on steel long products, steel pipe and tube as well as aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago - where he was involved in launching AMM's daily hot-rolled coil index, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.