Those familiar with the business of Argentine multinational Techint claim that the firm’s steel is not just at the heart of its operations – they believe it is largely responsible for the power the company has in the world. Techint sits in an exclusive club of 30 companies which produce the most steel on the planet. Even though he was one of the first to put faith in Vaca Muerta’s non-conventional gas from Fortín de Piedra, nearly 85 percent of Techint owner Paolo Rocca’s business comes from steel production. And there is nobody who can convince the Italo-Argentine tycoon to abandon that position and give in to China in an ongoing trade war.
It remains to be seen how 2025 closed out for Rocca, but the numbers from the third-quarter of last year for Ternium Argentina, Techint’s flat and long steel division, do not look good at all. Even though production grew by 14 percent, there was a strong negative impact from a US$118.4-billion deferred
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