The Brazilian foreign trade authority, SISCOMEX, unveiled the list of the utilization by importers of the quotas for import of steel products that could clear customs at normal import tax rates.
From the total of 529,113 mt conceded, 86 percent were effectively used by the importers.
For the quota of plates in coil, 7,964 mt, only 26 percent was effectively imported while for the quota of 54,030 mt of HRC, 52 percent was imported.
For 100,559 mt of CRC, 83 percent was imported, for 156.708 mt of zinc coated 96 percent was imported, for 155,892 mt of Galvalume 93 percent was imported, for 52,976 mt of wire rod 87 percent was imported, and for 983 mt of seamed piping only 12 percent was imported.
The deadline for the utilization of these quotas was September 30, 2024, while a new round of quotas, with the same volume of concessions, is already granted with deadline for utilization until January 31, 2025. The unused volume of concessions is considered as lost for the purposes of the process.
So far in the year, the adoption of steel quotas for imports was not sufficient to reduce steel imports, chiefly from China, the main objective of the process.
According to analysts, the first signs of decreasing imports are expected for October 2024.
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