The current quota, which covers 353,000 tonnes of aluminium ingot imported into Brazil since August 2016, is valid until June 30 - meaning that it has almost been totally consumed some 50 days earlier than expected.
“I tried to obtain a license late last week to import just 250 tonnes of ingot with the tariff exemption and my petition was declined,” a buyer said.
“I was informed that all the licenses had been given out [and] that there are no more volumes available for new licenses under the current quota,” he added.
A second buyer expressed concern over a shipment of ingot that is already on its way to Brazil.
“When we requested the license, it was already too late as all the volumes were taken,” the second buyer said.
“Unless a new quota is introduced soon, we will have to pay to keep the metal at the port until...