The Mexican government has added 29 new items to the list of steel products that require pre-approved permits to be exported to the US, to prevent steel shipments from other countries such as China into the US.
The permits now cover 92 steel products, up from the 63 steel products from Aug 28, the economy ministry said in a notice published in the country’s official gazette (Dof) on Dec 27. These exports will meet demand in the US from the automotive, energy, construction, and aircraft industries, according to the release.
The permits for finished steel products will be valid from September 4, 2020 to June 30, 2021, while permits for semi-finished steel products are valid till December 31, 2020. The agreement was developed to comply with the restrictions on US steel imports under the Section 232 tariff, the Dof pointed out.
Mexico’s steel exports to the US fell by 16.5pc to 214,326mt in November from 256,861mt in the same month of 2019, according to figures from the United States Census Bureau. Crude steel production, on the other hand, increased by 1.7pc to 1.45mn mt in November from 1.42mn mt a year ago, according to World Steel Association (worldsteel) data.