Latin American steelmaker Ternium, based in Luxembourg, said it believes it can take back market share held by imports in Mexico, chief executive officer M??ximo Vedoya told analysts on Wednesday October 31. The company is expanding a plant there.
"Mexico is a more competitive market than the United States to produce steel and we believe we can do that, taking market share back from imports," the executive said on a conference call. "I think the new North American agreement [US-Mexico-Canada Agreement, or USMCA] will benefit us in Mexico since the new rules increase the local content requirements."Apparent steel consumption in Mexico was at 26.4 million tonnes in 2017, up from 25.4 million tonnes in 2016, according to World Steel Association (Worldsteel)....