Mexico launches investigation into imports of hot-rolled steel from China and Vietnam

The Mexican Ministry of Economy has officially initiated an anti-dumping investigation into imports of hot-rolled steel from China and Vietnam, MRS Steel reports.

The investigation was launched at the request of Ternium Mexico, one of the leading local steel producers. The company claimed that imported HRC from China and Vietnam was being sold at prices below fair market value, which was causing material damage to the Mexican industry.

The move is intended to protect local steelmakers from the risk of unfair competition from low-priced imported products.

Among the exporters under investigation are such large Chinese companies as Ansteel Group and Baosteel. The investigation will also have a significant impact on large Vietnamese steel producers, including Formosa Ha Tinh and Hoa Phat Group. Both companies are actively expanding their exports to Mexico. Last year, Vietnam exported more than 260 thousand tons of hot-rolled steel to Mexico.

The investigation will cover the period from September 2023 to August 2024. The products covered by the investigation fall under the following codes: 7208.10.03; 7208.25.02; 7208.26.01; 7208.27.01; 7208.36.01; 7208.37.01; 7208.38.01; 7208.39.01; 7208.40.02; 7208. 51.04; 7208.52.01; 7208.53.01; 7208.54.01, 7208.90.99; 7211.13.01; 7211.14.91; 7211.19.99; 7225.30.91; 7225.40.91 and 7226.91.07.

As GMK Center reported earlier, the Ministry of Industry and Trade of Vietnam announced the introduction of temporary anti-dumping duties on imports of hot rolled coils (HRC) from China. The rates range from 19.38% to 27.83%. The tariff will come into force on March 7 and will be valid for 120 days.