Argentina has extended its restrictions on scrap exports for another year from December 23, 2020, to December 23, 2021, to meet its domestic steel industry demand.
The country lacks a fluid supply of iron and steel scrap, which impacts operations of the steel industry, the government said in a resolution published in the country’s official gazette.
The products affected are classified under tariffs 7204.10.00, 7204.21.00, 7204.29.00, 7204.30.00, 7204.41.00, 7204.49.00, 7204.50.00, 7404.00.00, and 7602.00.00, according to data from the gazette.
The government had previously imposed restrictions on scrap exports in 2009 and 2012. The restrictions have continued since 2014 after they were briefly lifted in 2011 and 2013.
Argentina’s crude steel output increased by 9.3pc to 390,800mt in November, from 357,500mt produced in the same month last year, due to higher demand from the construction, automotive, and durable goods industries.