Mexican Ministry of Economy expanded the taxes on wire rod imported from China.
The authorities satisfied the common complaints of firms who was scared of the damages of the taxes on local producers including Deacero, Ternium and ArcelorMittal. The current tariff is 0.5 USD per kg.
Last year, the steel production in Mexico recovered to the pre-Covid level. Metallurgy sector continues to attract attention from the authorities and it is the priority of the country to attract foreign investment.
Compared with 2021, Mexico steel consumption decreased by %1.9 in the January-November period with the effect of global problems.
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