The term of validity of customs duties on products from South Korea, Spain, India and Ukraine has been extended for 5 years
The Ministry of Economy of Mexico completed the review of anti-dumping duties on imports of seamless carbon steel pipes from South Korea, Spain, India and Ukraine, and decided to extend them. SteelOrbis informs about it.
Anti-dumping duties were established in 2018 in the amount of up to $378/t.
Final countervailing duties of $131.2/t for imports from Iljin Steel and other exporting companies from Korea, $206.7/t for supplies from India and $170.1/t for imports from Ukraine have been extended for five years.
With respect to Spain, as of 2018, Tubos Industrial and Productos Tubulares have committed not to directly or indirectly export seamless carbon steel tubes to the Mexican market at prices below $1,260/t for 2» and 6» diameter tubes and $1,360/t for 2» diameter tubes 8 and 16 inches. According to the new resolution, a single price is set for them at the level of $1,870/ton.
The price for Spanish exporters is indicated on ex-works terms. It will be updated annually, taking into account annual fluctuations in international scrap prices and inflation in this country.
The review was conducted at the request of Tubos de Acero de México (TAMSA), a division of Tenaris, a world leader in seamless steel tubing for the oil industry.
The products in question are imported into Mexico under tariff codes 7304.19.01, 7304.19.02, 7304.19.99, 7304.39.10, 7304.39.11, 7304.39.12, 7304.39.13, 7304.39.91, 7304.39. 92 and 7304.39. 99 of the General Law on Import and Export Taxes (TIGIE).
In addition, under TIGIE, Mexico will impose temporary tariffs from April 2024 to April 2026 on countries with which it does not have a free trade agreement. For codes 7304.19.01, 7304.19.99, 7304.39.10 and 7304.39.12 it is 25%, for 7304.19.02, 7304.39.11, 7304.39.13 and 7304.39.99 – 35%.
As reported earlier, Ministry of Finance of India announced the continuation for five years of anti-subsidy duty on imports of welded stainless steel pipes from China and Vietnam. This duty was first introduced in September 2019 and will range from 12 to 30%. The safeguard measure came into effect following complaints by several industry associations that the metal products in question were being exported to India at prices below cost due to subsidies.
Read more: Indian steelmakers are calling for higher tariffs due to rising imports from China
Vietnam Steel by Hoa Sen Group
