Ternium, Metal One have USMCA choice to make as Mexico turns on charm

Canada 444 Materials - Metals/Mining 660 Metals - Steel 452 Mexico 767 U.S. 4833 USMCA 439

The Mexican government plans to attract manufacturers to invest in the country after the launch of the U.S. Mexico Canada Agreement on July 1 brings “opportunities that open up with this increase in regional content requirements”, according to Economy Minister Graciela Marquez. The autos and steel sectors are particularly relevant given the new rules-of-origin will favor production in the region over imports from outside. Mexico’s steel industry is already expanding. Exports of steel have increased by 15.9% year over year in 2019 versus 2017 with 72.6% flowing to Canada and the U.S. One ...

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