Mexico steel chamber welcomes antidumping duties

New antidumping duties on Chinese steel have been welcomed by Mexico's steel chamber.

Definitive duties of US$0.49/kg were imposed on imports of steel wire rod from the country in July, along with preliminary duties on flat coated steel from China and Taiwan, ranging from US$0.1926-0.563/kg.

The duties give certainty to domestic producers and make trade rules fairer, steel chamber Canacero said in an emailed statement.

"Imports at unfair prices, incentivized by surplus production capacity in China and the predatory trade practices of other countries, have seriously distorted global steel markets and are the main threat to the national steel industry and its supply chain," the chamber added.

Last year, imports made up 47.3% of Mexico's total steel consumption, resulting in domestic producers operating at 60% of their installed capacity and the loss of more than 10,000 direct jobs, Canacero said.

The current government under President Enrique Peña Nieto has resolved 29 antidumping investigations, three times the number in previous administrations, the chamber added.

Mexico imposed preliminary duties on South Korean ferromanganese earlier in July. In H1, definitive duties were imposed on carbon steel tubing from the US, Spain and India.