Brazil delays implementation of countervailing duty on Chinese steel

The Brazilian Trade Secretariat has imposed a countervailing duty of up to US $ 425.22 per tonne on rolled steel from China for five years.

In the Brazilian Official Gazette, Camex confirmed the existence of "subsidies for the export of hot rolled flat products from China to Brazil and the damage to the domestic industry resulting from this practice." Tariffs apply to hot rolled, unwound flat products 600mm wide or above and below 4.75mm thick, or rolled products of any thickness.

However, Camex is delaying the tariff for up to one year in the "public interest," it said. According to him, this could damage economic cooperation between Brazil and China and prevent "an increase in trade flows with China." “It will also lead to higher production costs in Brazil with potential negative impacts,” Camex said.

For the Baosteel group, the duty was increased by $ 196.49 /t; Bengang Group up to $ 237.17 /t; Chinese steelmakers Angang Steel, Hunan Walin 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 Yuxin City Metal Products Co., Tangshan Ruiyin International Trade Co. and Tangshan Yanshan Iron & Steel Co. were charged at $ 222.75 /t; other manufacturers suffered $ 425.