As reported by Reuters, on Tuesday, Mexico announced the introduction of protective duties on steel for a period of 6 months, in order to protect its market from an influx of cheap steel products from other countries, including China.
The new duties amount to 15% and will be applied to five types of products: x/to roll, g roll, wire rod, steel sheet and thick sheet. Apply to countries with which Mexico has no free trade agreement, announced the Ministry of economy of the country, ie, and Russian products.
Earlier in September, Mexico has announced that it will investigate imports of wire rod from China at the request of the three companies, Chinese suppliers caught in the dumping. It is companies such as ArcelorMittal Las Truchas , Deacero, and Ternium Mexico.
Mexican steelmakers fear the influx of steel products from countries ranging from China to Russia, which can sell its product below the cost of production to capture a larger market share. According to Canacero, the rapid growth of steel imports reduced the share of Mexican steel market to less than 50%.