Steel Products Prices North America

Mexico Increases Steel Import Tariff by 15%

October 1, 2015

Steel imports to Mexico will see a 15 percent increase in tariffs for the next six months. The government said it will impose the temporary increase on imports from countries that do not have a free-trade agreement with Mexico in an attempt to stem the surge of low-priced imports flooding the country.

Canacero, the Mexican Iron and Steel Industry Chamber, reports that steel imports increased 11.2 percent in the first eight months of 2015 compared to the same period in 2014. During the same period, Mexico’s total apparent steel consumption increased 9.7 percent and was completely absorbed by imports. Imports accounted for 47 percent of steel consumption from January through August.

Canacero says that 34 percent of total imports, up from 25 percent in 2014, were from countries with which Mexico has no free trade agreement and most of it was at dumping prices.

Mexican steel mills are concerned about the loss of market share to countries like China and Russia, said Canacero. Import prices from China in September were 39 percent lower than the same month last year.

The increase in duties will cover imports of hot and cold-rolled steel, slab, plate and wire rod.