Mexico Investigates Anti-Dumping Taxes on Hot-Rolled Steel from China and Vietnam
[tintuc]
Mexico will investigate hot-rolled steel imported from China and Vietnam after a steel company called Ternium accused three companies of dumping.
Ternium, one of Mexico’s two big flat steel producers, said Chinese steelmakers Baosteel and Baowu, and Vietnam’s Hoa Phat, sold hot-rolled coils (HRC) in Mexico at unfairly low prices. This was reported in an official government notice on March 3. The investigation will look at imports from September 2019 to August 2024, with a special focus on September 2023 to August 2024.
According to Global Trade Tracker, Mexico imported 1 million tons of HRC from China and Vietnam during the full investigation period and 371,200 tons in the 2023-2024 period. In total, Mexico imported 12.3 million tons of HRC in the longer period and 2.55 million tons in the shorter one. China and Vietnam are among the top six countries exporting to Mexico in both periods.
This investigation happens because Mexico’s steel industry is struggling with cheap steel imports from Asia.
The United States plans to put a 25% tax on steel and aluminum imports starting March 12. It also plans a 25% tax on all imports from Mexico starting March 4. Mexico said it might add its own taxes in response by the end of this week if talks to remove the U.S. taxes fail.
Mexico will investigate hot-rolled steel imported from China and Vietnam after a steel company called Ternium accused three companies of dumping.
Ternium, one of Mexico’s two big flat steel producers, said Chinese steelmakers Baosteel and Baowu, and Vietnam’s Hoa Phat, sold hot-rolled coils (HRC) in Mexico at unfairly low prices. This was reported in an official government notice on March 3. The investigation will look at imports from September 2019 to August 2024, with a special focus on September 2023 to August 2024.
According to Global Trade Tracker, Mexico imported 1 million tons of HRC from China and Vietnam during the full investigation period and 371,200 tons in the 2023-2024 period. In total, Mexico imported 12.3 million tons of HRC in the longer period and 2.55 million tons in the shorter one. China and Vietnam are among the top six countries exporting to Mexico in both periods.
This investigation happens because Mexico’s steel industry is struggling with cheap steel imports from Asia.
The United States plans to put a 25% tax on steel and aluminum imports starting March 12. It also plans a 25% tax on all imports from Mexico starting March 4. Mexico said it might add its own taxes in response by the end of this week if talks to remove the U.S. taxes fail.
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