LatinNews Daily - 22 September 2020

* Mexico’s economy ministry (SE) has launched an ‘anti-dumping’ investigation into imports of steel slabs from companies in Brazil and Russia, independent of the country of origin, after key local steel producer ArcelorMittal México submitted a complaint on 30 June. According to the case details published in the official gazette (DOF), ArcelorMittal alleged that between 2017 and 2019 steel imports from Brazilian and Russian companies were obtained at ‘dumping’ prices, meaning artificially undervalued, hurting Mexican steel producers. As the quantity of these imports grew in relative and absolute terms in relation to Mexican production over this period, domestic sales and operating profits diminished; while total imports grew by 15%, domestic production intended for the local market fell by 25%. Companies implicated in the report include the Brazilian subsidiary of the global steel giant, Arcelormittal Tubarão, as well as its local competitor Compañía Siderúrgica de Pécem (CSP), and Russia's Novolipetsk Steel Company (NLMK) and Magnitogorsk Iron and Steel Works. Over the period analysed, Brazil provided 70% and Russia 23% of the total of steel slab imports.

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