By Kylie Madry
MEXICO CITY, Nov 11 (Reuters) – Latin American steelmaker Ternium is weighing more anti-dumping cases in Mexico to fight imports, especially from Asia, Chief Executive Maximo Vedoya told Reuters on Tuesday, as trade frictions over steel cloud broader talks with the United States.
Vedoya told Reuters Ternium would “very likely” pursue more anti-dumping cases after backing recent petitions in Mexico, where the company is trying to replace imports with local supply and ramp up a major new slab mill in Pesqueria just outside the industrial hub Monterrey, near the border with the US.
Ternium has been the petitioner in several Mexican cases against Asian steel shipments in the past few years.
Steel has become a central part of the US-Mexico trade agenda as the trilateral agreement with Canada is up for review.
Vedoya said the more important issue for North America was tightening rules of origin and easing the burden of US Section 232 tariffs, which apply to steel and aluminium, on regional trade.
Ternium has argued that Mexico and the United States face the same challenge from unfairly priced steel, though Vedoya said Ternium’s own direct exposure to US tariffs is now limited because it has sharply reduced exports from Mexico to the United States.
Instead, the company is focused on winning market share at home from imported flat steel, particularly from Asia.
Vedoya said the Pesqueria project, due to start production in February 2027, would take time to deliver its full payoff because sophisticated new products require certification and a lengthy ramp-up.
Ternium has told investors that the main benefits should become visible in 2028 and that using slab produced at Pesqueria rather than imported slab could add $50 to $100 per ton in margin.
Vedoya also said Ternium was focused on lifting performance at Brazilian steelmaker Usiminas, though he cautioned that its 2027 outlook would depend in part on conditions in Brazil. In February, Ternium and partner firms raised their controlling group stake in Usiminas to just under 93%, with some reports in August speculating that Ternium may buy the company outright.
“Improving productivity (at Usiminas) is the focus we have today,” Vedoya said. “There’s no other focus there.”
(Reporting by Kylie Madry; Editing by Aurora Ellis)
