Steel producer Ternium ( TX) is another bargain bin name worth watching this month. The firm has exposure to massive steel processing capacity in Argentina, Mexico, Colombia and Brazil, giving the firm a front row seat to the Latin American growth story that's been shaping up in the last decade. As a holding company, Ternium owns a diverse set of steel-producing assets, from vertically integrated producers in Mexico to processing mills in Argentina. That mix means that commodity shifts don't fully impact the firm in either direction, and helped the firm snap back its revenues in the wake of the financial crisis. >>5 Breakout Trades From the Eurozone With emerging markets re-emerging as a growth story in 2012, investors could see demand perk up considerably for TX's offerings -- especially in markets such as China, which currently make up a tiny fraction of output. With shares trading at only 84% of book, this asset-intense company looks cheap right now. Especially when the net cash position on Ternium's balance sheet is taken into account. So far this quarter, base metals companies generally have delivered impressive earnings surprise. Investors get their first glimpse at TX's numbers later this morning.