Tag: Brazilian steel

• Friday, April 26th 2024 - 10:56 UTC

  Brazil to discourage steel imports?

  

  Brazilian authorities announced this week that new measures will be in force concerning the import of steel products. In a move to discourage such practices, goods exceeding the quota of 11 items will be charged higher taxes, Agencia Brasil reported. In other words, if the maximum volume is exceeded, the import duty, currently ranging between 9% and 14.4%, will reach 25%, the Chamber of Foreign Commerce explained. The initiative seeks to prevent unfair competition with domestic steel.

• Friday, July 29th 2022 - 19:02 UTC

  Brazilian steel exports to the EU soar 830% in five months because of the Ukraine war

  

  Brazilian steel industry sales have ballooned since the start of the war in Ukraine sparked by the Russian invasion of its territory, which began in February. According to Steel Institute data, shipments of the metal raw material to the European Union increased by more than 830% in the first five months of this year, y-to-y, coinciding with the period of warfare in Eastern Europe.