Mexico announced Monday that it will impose provisional antidumping duties on imports of cold rolled coil (CRC) from South Korea, after a dumping investigation concluded that the entry of the product at dumped prices consequently damaged the local industry.
The fees range from 6.45 percent for imports from Hyundai to up to 60.40 percent for the steelmaker POSCO, the economy ministry said in a resolution published in the Official Journal. The measure will take effect on Tuesday.
Mexico began an investigation last year of unfair practices on imports of cold rolled steel sheet from the Republic of Korea, at the request of the Mexican unit of steelmaker Ternium.
"Based on the results of the analysis...the Department preliminarily determined that there is sufficient evidence to support imports of subject merchandise at discriminatory prices, causing damage to the industry nationally," said the Ministry of Economy.
Research was conducted on imports within the period of April 1, 2011 to March 2012, when lower prices were detected at about 12 percent to the national product and up to 34 percent on imports from other countries.