US threatens to cut Brazilian semi-finished steel quota - Aço Brasil

The United States government has been threatening to reduce an existing quota for imports of semi-finished steel products from Brazil in 2020, national steel institute Aço Brasil said on Monday July 27.

US representatives are considering the possibility of blocking the fourth quarter quota for semi-finished steel, which would prevent around 351,000 tonnes of Brazil-origin slab and billet from being exported to the country, according to Aço Brasil’s executive president Marco Polo de Mello Lopes.
The US government is also considering reinstating a 25% tariff on imports of Brazilian semi-finished steel, Lopes said. The measure aims to compensate for the lower use of steel in the US due to the Covid-19 pandemic.

“Some steel producers in the US have [a lot of] idle capacity because the market is down, so they want to block our exports in...

Published

Felipe Peroni

July 27, 2020

22:41 GMT

São Paulo