The Brazilian foreign trade authority, SECEX, announced quotas in the total of 529,113 mt of steel products that can be imported between October 1, 2024, until January 31, 2025.
These new quotas replace those that were used until September 30, 2024.
The quotas by family of products are the following:
- Plates in Coil: 7,964 mt
- HRC: 54,030 mt
- CRC: 100,559 mt
- Zinc Coated: 156,709 mt
- Galvalume: 155,892 mt
- Wire Rod: 52,976 mt
- Seamed piping: 983 mt
Considering the first two weeks of October, 63 percent of the quotas have already been used by the importers.
When these quotas are spent, the subsequent imports will be subject to import tax of 25 percent, up from today’s average of 12 percent.
The high rate of utilization of the quotas points to Brazilian steel imports declining during the next months, as the higher import tax will reduce the competitiveness of the imported products in the country’s domestic market.
Such quotas and higher import taxes were implemented to face imports at alleged dumping prices, chiefly from China.