9,321.64 TRY BIST 100 BIST 100
38.18 USD USD USD
5.27 CNY CNY CNY
44.06 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
45.84 TRY Interest Interest
66.96 USD Fossil Oil Fossil Oil
40.44 USD Silver Silver
4.76 USD Copper Copper
99.35 USD Iron Ore Iron Ore
352.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,286.58 TRY Gold (gr) Gold (gr)

Brazilian steel producers urge 25% import tariff hike amidst surge in Chinese steel imports

In a bid to protect their domestic industry, Brazilian steel manufacturers are calling for an increase in import tariffs to 25% on Chinese steel products.

Brazilian steel producers urge 25% import tariff hike amidst surge in Chinese steel imports

In a bid to protect their domestic industry, Brazilian steel manufacturers are calling for an increase in import tariffs to 25% on Chinese steel products. The South American nation grapples with a significant influx of Chinese steel imports, which have surged by 49.5% in the first eight months of this year when compared to the same period last year, reaching a staggering 3.2 million tons. Of this total, a substantial 1.7 million tons originated from China.

The 48.6% increase in steel imports from China to Brazil within the aforementioned eight-month period has raised concerns among local steel producers. Carlos Loureiro, the President of the Brazilian Steel Distributors Association, highlighted a glaring price discrepancy. He pointed out that the combined cost of Chinese iron ore and coking coal stands at $342 per ton, while Chinese Hot Rolled Coil (HRC) steel is being sold at a significantly higher price of $540 per ton.

Loureiro emphasized that this $198 price difference does not account for additional expenses such as labor, transportation, equipment depreciation, energy costs, rolling processes, alloy elements, and more. Consequently, Brazilian steel manufacturers are finding it increasingly challenging to compete in the market.

The situation in Brazil mirrors similar actions taken by other countries. Mexico has recently raised its import tariffs on steel products to 25%, while Argentina maintains tariffs ranging from 12% to 20%. Additionally, the United States, Europe, and India have all implemented their own trade barriers to curtail the influx of Chinese steel imports. These measures reflect a global effort to protect domestic steel industries from the competitive pricing strategies of Chinese steel producers.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

April prices fluctuated in Egypt's rebar market

Tuesday, April 22, 2025

Türkiye's consumer confidence index decreased again in April

Tuesday, April 22, 2025

EU supports Spain with 400 million euros in hydrogen production support

Tuesday, April 22, 2025

İsdemir to build a SPP worth TRY 701.6 million in Diyarbakır

Tuesday, April 22, 2025

Egypt and Saudi Arabia to cooperate on green energy

Tuesday, April 22, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now