Mexico's ministry of economy said Thursday it continues to review an agreement that imposes conditions on the country's imports of cold-rolled sheet steel from South Korea's Posco and Hyundai Hysco and has increased the volumes of CRC allowed to enter Mexico.
In June 2013, the ministry imposed a duty of 60.4% on coil from Posco and a duty of 6.45% on imports manufactured by Hyundai Hysco, but in December 2013 it dropped the investigation after the companies agreed to limit their exports and keep their prices competitive with Mexican output.
Both Posco and Hyundai voluntarily committed to export the products under investigation at a non-harmful price to the Mexican domestic market and not to exceed established limits of annual shipments.
The volume of exports allowed for Posco for 2017 was raised to 530,000 mt and the volume for 2018 was raised to 545,000 mt. Previously, the company was permitted to export 500,000 mt in 2017 and 500,000 mt in 2018.
For Hyundai, the volume the company is allowed to export to Mexico is now 35,000 mt in 2017 and 45,000 mt in 2018. Previously, the company was permitted to send 25,000 mt in 2017 and 30,000 in 2018.
The investigation was first requested by Mexico's Ternium in July 2012 and supported by Altos Hornos de Mexico (Ahmsa). Those two companies represent 100% of Mexican cold-rolled sheet steel output.
The product under investigation is cold-rolled sheet steel containing not less than 0.0008% of boron, non-coated, of width equal to or greater than 600 mm and thickness less than 3 mm.
