Ternium reportedly plans to take Usiminas private

Ternium is reportedly considering a move to take Usiminas, Brazil’s leading flat-steel producer, private and delist it from the stock exchange. The news, reported by Brazilian media outlets including O Globo, Valor Econômico, and InfoMoney, triggered a significant market reaction, with Usiminas shares rising by more than 7% on the São Paulo exchange.

Ternium previously secured control of Usiminas in 2023 and completed the acquisition of remaining stakes from Nippon Steel and Mitsubishi in 2025. While the reports suggest a desire to take full ownership, no formal offer, price, or timetable has been officially published by either company.

Any potential delisting remains subject to the approval of Usiminas' minority shareholders. A formal filing with Brazil’s securities regulator would serve as the first official confirmation of the plan.