The Brazilian foreign trade authority, SECEX, reported the percentage of the total quotas of 529,113 mt used by the importers until December 16, 2024.
Such import quotas are valid until January 31, 2025, for imports at the current average import tax of 12.5 percent, while the exceeding imports will be subject to import tax of 25 percent
The quotas, by family of products, and respective utilization rates, compared to the position on 25 November, are the following:
- Plates in Coil: 7,964 mt, 6 percent already used, stable
- HRC: 54,030 mt, 38 percent already used, up from 36 percent
- CRC: 100,559 mt, 74 percent already used, up from 66 percent
- Zinc Coated: 156,709 mt, 90 percent already used, stable
- Galvalume: 155,892 mt, 90 percent already used, stable
- Wire Rod: 52,976 mt, 69 percent already used, up from 41 percent
- Seamed piping: 983 mt, 23 percent already used, up from 16 percent
In total, 78 percent of the 529,113 mt of the quotas were already used by the importers against 74 percent on November 25.
Such quotas and higher import taxes were implemented to face imports at alleged dumping prices, chiefly from China.
According to analysts, the Brazilian imports of finished steel products has declined in volume by 36 percent from October to November, but it is not clear if the reduction derives entirely from the system of quotas for imports.