Brazil's steel institute, IABr, has requested a meeting with Brazil's development and industry ministers to discuss emergency measures to reduce the 78% rise in steel imports in July.
The institute believes Brazil's position is fragile due to its 9.6% import tariff on most steel products, compared to 25% in Mexico and the US. Domestic demand is weak, and exports are difficult to increase, while imports are upward due to favorable exchange rates, low international prices, and an oversupply of steel products, mainly from China.
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