Although Brazil received a US billet export quota in 2018, the US President recently announced a temporary quota cut. At the end of August this year, the US government announced that it would cut the quota for US billet exports for the fourth quarter from 350,000 tons to just 60,000 tons.
Lowering the import quota for billets will harm the interests of US steel mills and may lead to an increase in domestic prices for flat products in the US. At the same time, it will negatively affect Brazilian billet producers.
Due to the impact of the epidemic, these manufacturers had already significantly reduced their production capacity early on, and the cut in US export quotas was worse for them.
The USA reduces the quota for import of billets from Brazil by the 4th quarter
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