Ternium Bets on Latin America Repelling China Steel Threat
- CEO says Mexico has responded adequately to flood of exports
- New government needs to solve issues with power transmission
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Top Latin American steelmaker Ternium SA is plowing ahead with growth plans, betting that governments in the region have woken up to unfair competition from China, Chief Executive Officer Maximo Vedoya said.
While a deluge of cheap Chinese steel in the past two years has accelerated curtailments at mills around the world, Ternium is stepping up investments, particularly in Mexico, where authorities have stiffened antidumping measures to protect a manufacturing boom, Vedoya said in an interview Tuesday on the sidelines of a BloombergNEF forum in Monterrey.