Posted on 27 Aug 2018
Mexico has begun a review of the validity of the commitments assumed by the South Korean steelmakers Posco and Hyundai Hysco over their cold-rolled steel imports in the country. So says the Mexican Secretary of Economy in a document published in the Official Gazette on 23 August, monitored by Kallanish.
Mexico had initiated an official anti-dumping investigation on South Korean CRC imports and imposed countervailing duties of 6.45% on such imports from Hyundai Hysco and 60.40% from Posco in June 2013. Both the investigation and the measures were removed in December 2013 after the companies agreed to export CRC into Mexico on quota basis.
Hyundai Hysco, voluntarily assumed a quota of 10,000 tonnes of cold-rolled steel in 2014, 15,000t in 2015, 20,000t in 2016, as well as 35,000t and 45,000t in 2017 and 2018, respectively.
During the 2014-2018 period, Posco`s annual import quota ranged between 400,000-545,000t.
The imported products being monitored are classified under HS codes 7209.16.01, 7209.17.01, 7209.18.01, 7225.50.02, 7225.50.03, 7225.50.04 and 7225.50.99.
The review of the validity of the commitments was requested by Mexican steelmakers Ternium and Ahmsa.
