The option to immediately suspend the sanctions came despite the confirmation of dumping practices by the two nations.
“The Chinese and Russian exporters will explore this new opportunity, especially in times such as now when Chinese [firms] seem to be more export-minded than before the New Year,” a Brazil-focused steel trader said.
“If this goes hand in hand with a better market situation in Brazil, then there will be space for all producers [and not only the Chinese and Russians],” he added.
Rumors indicating that Brazil would not set anti-dumping duties on HRC imports from China and Russia emerged late last year, restimulating a market that was virtually static.
Traders focused on the Brazilian market have received several inquiries from...