July 14, 2015 / 2:09 PM / 2 years ago

Mexico imposes tariffs on steel from Spain, U.S. and India

MEXICO CITY, July 14 (Reuters) - Mexico imposed provisional import duties on carbon steel tubing with seams from the United States, Spain and India, on Tuesday as it investigates possible dumping.

The new measures, announced by the economy ministry in the country’s official gazette, come as Mexico steps up efforts to protect its struggling steel industry, which has seen mass layoffs due to a glut of global supply that has hammered prices.

Earlier this month, the economy ministry added 86 steel products to the “sensitive merchandise” list, flagging them for extra scrutiny, as well as beefing up customs controls to prevent avoidance of quotas.

The ministry said it had 31 anti-dumping quotas in place, with nearly half on Chinese products.

In June, Mexico imposed provisional import duties on hot-rolled steel from Germany, China and France amid an anti-dumping investigation.

Later in June, the government announced import duties on cold-rolled steel sheet from China.

Altos Hornos de Mexico, one of Mexico’s largest steelmakers, has said it will cut its workforce by 20 percent, suspend investments and reduce production after what it called a drastic fall in prices.

Slack global demand, oversupply from China and cheap imports from Russia have battered steelmakers. (Reporting by Veronica Gomez; Editing by Peter Galloway)

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