Ternium SA, Latin America's top steel producer, is advancing its growth plans amid increasing global competition. CEO Máximo Vedoya noted that China's economic slowdown led to a surge in steel exports. As many countries lean towards protectionism, Ternium sees an opportunity, especially in Mexico, where the company is expanding its investments.

Mexico's government tightened anti-dumping policies to protect its manufacturing sector, which Vedoya said supports Ternium's job growth in the country. Brazil is also strengthening its steel industry protections, reflecting a regional push to safeguard local manufacturing.

Vedoya emphasized that no company can compete with China's state-backed steel industry, but Ternium is well-positioned to benefit from nearshoring, as supply chains shift from Asia to Mexico. He also urged the new government under President Claudia Sheinbaum to focus on infrastructure and renewable energy to support this trend. Ternium is already producing advanced steel for the automotive sector, which was previously imported from Asia.