The Brazilian foreign trade agency SECEX has updated the status of the quotas allowed for imports of steel products at the current import tax rate.
When these quotas are exhausted, the subsequent imports will be subject to import tax of 25 percent, against today’s average of 12 percent.
For plates in coil, 3.81 percent has been used out of a total quota of 7,964 mt.
For HRC, 23.3 percent has been used out of a total quota of 54,030.
For CRC, 15.5 percent has been used out of a total quota of 100,600 mt.
For wire rod, 24.8 percent has been used out of a total quota of 53,000 mt.
For welded pipe, 4.5 percent has been used out of a total quota of 1,000 mt.
These quotas were allowed for utilization by importers between June 1 and September 30, 2024.
Such quotas and higher import tax were implemented to face imports at alleged dumping prices, chiefly from China, but according to analysts, in practical terms, the higher import tax will be in force only during the fourth quarter of the year, considering the current volume of imports.