Brazil's steel import tariffs or down

Brazilian Finance Minister Guido Mantega said recently that in order to reduce inflationary pressures, the government is investigating the cut including steel import tariffs on several products feasibility.

Fourth quarter last year, the Brazilian government raised import tariffs on 100 kinds of products in order to protect domestic industries, including hot rolled, cold rolled, plate, rod, bar, rails, including 17 kinds of welded pipe and seamless steel import tariffs from 12% to 25%. At the same time, Mantega said that if the local mills steel prices rose to above international standards, the government will abolish tariffs on steel imports, mainly steel prices too high will lead to increased imports and injury to the domestic industry interests.

However, the deadline to May this year, the local steel mills have raised several times, including two flat steel price increases cumulative rate of up to 10% -15%, the steel is preparing a third round of price increases; until April deadline, long-material price increase reached 6%.

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Brazil&#039;s steel import tariffs or down

Brazil's steel import tariffs or down

Brazil's steel import tariffs or down