Mexico to allow more importation of S. Korean cold-rolled steel products

Mexico has agreed to increase its import quota of South Korean cold-rolled steel products, after announcing last month that it would increase importation from 548,000 tons in 2019 to 662,000 tons in 2023.

South Korean Deputy Foreign Minister Kim Gunn requested an import quota hike of cold-rolled steel sheets during his visit to Mexico in October.

Malaysia has imposed anti-dumping duties on certain flat-rolled steel products from South Korea for five years with taxes ranging from 9.98 percent to 34.94 percent.

Last July, South Korean cold-rolled steel product manufacturers led by Hyundai Steel Co. and Posco gained a small relief after the US completely removed anti-dumping duties on their products.

Cold-rolled sheets are manufactured by processing hot-rolled steel sheets. It is mainly used in automobiles and home appliances.