Antidumping Investigation on Steel Rising Turmoil in Brazil
Processing industry and Steel mills are arguing about the antidumping investigation against hot rolled steel products from China and Russia.
From one side, Led by the Brazilian Association of machinery and equipment industry (Abimaq), 18 entities processing industry representatives sent a letter to President Michel Temer and eight ministries asking for attention to the issue. The group argues that undermine competition with imported will give space for various ratios will steelmakers prices already have risen nearly 30% this year-which may worsen even more the situation of the industry and reduce jobs.
On the other side, Steel mills affirm that a predatory behavior exists that has to be rectified.Marco Polo de Mello Lopes, Chief Executive of the Brazil Steel Institute said that there is nothing concrete to prevent the application of anti-dumping.
In July of this year, Brazil imported 137 thousand tons of flat-rolled products which represents 14,1% of the monthly intake of imported products.A year before, this penetration was 4.4%. In a horizon of 12 months until July, there was a 9.1% share of imports, while in 2016 that rate was 8.2%.
The meeting to take a final decision on the application of dumping on Chinese and Russian steel is scheduled for 11th , October.