Gerdau urges Brazilian government to update export incentives

Gerdau is urging the Brazilian government to update the so-called Reintegra programme to increase the competitiveness of local steel products in the external market.

The plan grants industrial companies tax credits equivalent to a percentage of their exports.
“Currently, the programme reimburses 2% of the firms’ exports value, but we are demanding that this percentage be raised to 5% soon,” Gerdau ceo André Gerdau Johannpeter said on Thursday May 4.
As a result of weak domestic steel demand in Brazil, mills have redirected volumes to the export market. Gerdau, for instance, has been exporting as much as 40% of its Brazilian output, according to Johannpeter.

The company’s steel export shipments from Brazil came to 412,000 tonnes...

Published

Ana Paula Camargo

May 04, 2017

20:03 GMT

São Paulo