SAO PAULO (Scrap Monster): The Mexican Ministry of Economy has announced extension of countervailing duty applied on imports of cold-rolled coils from Russia and Kazakhstan for another five years. The decision follows the recently conducted review by Mexican authorities. The CV duty will now be valid through June 30th, 2020.
The release issued by the Ministry of Economy states that quotas will remain at 15% for CRC imported from Russia and 22% for CRC products imported from Kazakhstan. There is no change in quotas determined by the 2010 review.
The petition seeking review of countervailing duties was filed by domestic producers- Altos Hornos de Mexico (Ahmsa) and Ternium. The investigation had undertaken detailed studies on CRC imports into the country between 1st January, 2009 and 31st December, 2013. The CV duty extension will be applicable for cold-rolled steel sheet with a width equal to or larger than 600 mm and a thickness equal or greater than 0.5 mm but not exceeding 3 mm, under HS codes 7209.16.01 and 7209.17.01.
Mexico had first applied countervailing duty on CRC imports in June 1999. The decision was renewed for another five years in December 2005, followed by another extension in December 2010.