Ternium could benefit if the U.S. puts a tariff on steel coming from Mexico, according to Morgan Stanley.
"Hence, we believe that TX would be well positioned if the US imposed tariffs on steel produced in Mexico and Mexico retaliated."
The volume of steel imported to the U.S. from Mexico jumped 43% in 2022, compared with 2018 and 92% from 2015.
That underscores a shift in the relationship in recent years, as the country had a negative steel trade balance with the U.S. prior to 2018.
In other words, the bulk of the trade is steel more commonly produced by other companies.
Persons:
Morgan Stanley, Carlos De Alba, De Alba, Ternium, Alba, — CNBC's Michael Bloom
Organizations:
U.S
Locations:
U.S, Mexico, Wednesday's