Brazilian steel association IABr welcomed a notice by the country’s chamber of foreign trade, Camex, last Friday imposing antidumping (AD) duties on imports of Chinese and Russian HRC for five years.
Despite applying the duties, Camex said the levies will be provisionally suspended for one year for public interest matters, as several Brazilian industrial segments rely on the imports of the product. After one year, Chinese and Russian exporters will pay the levies if Brazil lifts the suspension.
The duties are for five years, ranging from $77.72/mt for Chinese exporters to $207.43/mt for Russian exporters. They fall under the following Mercosur HS codes: 7208.10.00, 7208.25.00, 7208.26.10, 7208.26.90, 7208.27.10, 7208.27.90, 7208.36.10, 7208.36.90, 7208.37.00, 7208.38.10, 7208.38.90, 7208.39.10, 7208.39.90, 7208.40.00, 7208.53.00, 7208.54.00, 7208.90.00, 7225.30.00 and 7225.40.90.
China’s Maanshan Iron & Steel will pay $154.68/mt.
Chinese exporters Baoshan Iron & Steel, Shanghai Meishan Iron & Steel, Guangdong Shaoguan Iron & Steel and Xinjiang Bayi Iron & Steel should pay $77.72/mt as soon as the measure comes into effect.
Tangshan Iron & Steel Group, Handan Iron & Steel Group Co and Chengde Iron & Steel Group Co will pay $206.04/mt.
Angang Steel Company Limited, Hunan Valin Lian Yuan Iron and Steel Co, Inner Mongolia Baotou Steel Union Co, Jiangyin Xingcheng Special Steel Works Co, Qingdao Sino Steel Co, Rizhao Steel Holding Group Co, Shenzhen Sm Parts Co, Shenzhou City Yuxin Metal Products Co, Tangshan Ruiyin International Trade Co and Tangshan Yanshan Iron & Steel Co will pay $184.49.
All other Chinese exporters will pay $226.58/mt.
Russia’s Severstal will pay $118.50/mt, while other Russian exporters will pay a $207.43/mt levy.
IABr said the imposing of duties, even suspended for a year, was “positive.”
IABr has opposed Brazil’s finance ministry’s reasons for recommending that the duties not be applied. IABr said the duties, even suspended, “recognize” the technical work carried out by the country’s ministry of industry, commerce and foreign trade, MDIC, and its commercial defense department, the DECOM.
“It demonstrates the existing of dumping, damages and causal link as it was being warned by the [Brazilian] steel sector,” IABr said.
Last week, Brazil’s finance ministry said the duties would negatively affect the major consumers of HRC in Brazil and the industrial chain. It said it would also raise the country’s inflation rate.