Mexico’s economy secretariat, SE, said it has maintained an agreement with Posco, allowing it to export a certain amount of CRC to Mexico, according to a notice published at the nation’s official gazette.
SE said the products subject to the CRC export agreement fall under the HS codes 7209.16.01, 7209.17.01, 7225.50.02, 7225.50.03, 7225.50.04 and 7225.50.99.
Posco agreed to export CRC at non-harming prices to Mexico under the following limits: 547,500 mt in 2019, 573,906 mt in 2020, 596,508 mt in 2021, 620,044 mt in 2022, and 661,586 mt in 2023.
SE said it may impose duties over the CRC imports from Posco if it fails to meet the agreed export quota. Hyundai Hysco Co has also agreed to export CRC under a specific quota limit.
Mexico’s economy secretariat, SE, started an anti-dumping (AD) investigation on October 1, 2012, over the imports of CRC from Korea. On June 3, 2013, SE announced a provisional countervailing duty of 6.45 percent over CRC imports coming from Hyundai Hysco Co and 60.40 percent from Posco and the rest of Korea.
Later in December 26, 2013, both Posco and Hyundai Hysco Co reached a CRC import deal, in which Hyundai Hysco limited its CRC exports to Mexico to certain annual quotas, which were now increased. As a result of the deal, SE suspended the provisional AD duties previously established, due to the agreement reached with Posco and Hyundai Hysco Co.