As of August 13, the 445,469 mt of quotas of steel products allowed for import at regular steel import rates had a total utilization of 68 percent, according to the Brazilian foreign trade authority, Siscomex.
These quotas were approved on June 24 and are valid for utilization until October 23.
The utilization by product was as follows:
Volumes exceeding the quotas are subject to a 25 percent import tax if the clearing customs is concluded during the validity of the quotas.
Local steel producers continue to claim this strategy is insufficient to reduce steel imports, which they claim are traded at dumping prices, adding that much of these imports are made via Zona Franca de Manaus, the tax-free zone of Manaus, capital of the northern state of Amazonas, without paying import tax, even if the products are subsequently shipped to consumers in other states.
