Brazilian steel industry asks government for trade protection
Published: 20 May 2009 01:48:46 PSTThe chairman of IBS stated recently that it is urging the Brazilian government to levy the import tariff on the steel products again.
Since the Brazilian government removed the 16% import tariff in 2005, Brazilian steel industry has become the victim due to the cheap foreign resources.
The main foreign resources are from China and according to the statistics from IBS, Brazil manufactured crude steel and rolled steel of 5mln tons and 3.5mln tons in the first quarter, down by 42.1% and 46.6% respectively.
IBS also added that both Brazilian steel output and sales had increased in April, marking a sign of recovery.
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