Mexico Cuts Import Duties on Steel, Aluminum Wire

Mexico cut import duties on steel ingots to 3 percent from 5 percent, to make domestic manufacturing more competitive, according to a decree published in the government’s official gazette.

The government is also cutting duties on alloy and non- alloy aluminum wire to 3 percent and it is removing an exception for aluminum products such as tubes and will increase import taxes to as much as 5 percent, the Mexican Economy Ministry said yesterday in the Nation’s official gazette. The decree takes effect today.

Three-month aluminum on the London Metal Exchange has gained 19 percent in the past four months. It traded at $2,455 a ton today.

To contact the reporter on this story: Carlos Manuel Rodriguez in Mexico City at

To contact the editor responsible for this story: Dale Crofts at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.