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Mexican government eliminates import tariffs on steel - 6 January 2012

Following much deliberation, the Mexican government has announced the abolishment of import tariffs affecting 230 industrial factions, with the steel sector being one the most affected, SBB learns from the secretary of economy and national steel chamber Canacero.

As of January 1, several steel products and steel containing products are now exempt from 3-7% import duties; something that Canacero had feared would occur, and is likely to trigger an influx of cheaper goods.

The products affected include wire rod, bar and sections as well as some sheet and tube products.

The last meeting to occur between the government body and Canacero took place on December 20, 2011; however, following months of lobbying, the economy secretary’s decision could not be revoked.

While the forecast increase in import volume is not yet calculated, Canacero has been expecting the changes to hurt sheet, wire rod, rebar and tube producers. However, as previously reported by Steel Business Briefing, domestic integrated mill Ahmsa, is untroubled, noting that long products are the most affected.

 

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