Mexico's Ministry of Economy (SE) has increased the offset quota for imported carbon steel joints, known as fittings, coming from China, Callanish said from the country's official gazette. The product is classified under the TN VED code 7307.93.01.
On August 19, SE announced that the trade measures are valid for up to five years starting August 5, 2019.
“China has available manufacturing capacity and export potential that, during the study period, was equivalent to more than 270 times the Mexican market and more than 249 times the national production,” SE said.
If these measures are not taken, potential imports from China will lower the local price of such a product by 30%, which will also have a negative impact on the Mexican economy, SE concludes.
According to SE, China accounted for 38% of global carbon steel compound exports over the analysis period July 1, 2018 to June 30, 2019.
The offset quota was first introduced on 4 August 2004 at 81.04% on imports of carbon steel compounds for all Chinese companies. It was extended twice, and in 2011 the compensation quota was set at $ 1.05 per kg.
Mexico extends compensation quota for Chinese steel bars
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Azovpromstal® 21 August 2020 г. 11:11 |
