Brazil’s Ministry of Economy has suspended the licenses of importers in the country that sold Malaysian cold rolled austenitic stainless steel products domestically.
The licenses were canceled because the cold rolled austenitic stainless steel products don’t, in fact, originate from Malaysia. The decision was published by the Brazilian Secretariat of Foreign Trade and Foreign Affairs of the Brazilian Ministry of Economy in the country’s official gazette (DOU) on June 19.
The Ministry of Economy did not disclose the name of the Brazilian importers that sold cold rolled austenitic stainless steel products.
The products affected are classified under tariff code 7219.32.00, 7219.33.00, 7219.34.00, and 7219.35.00.
Brazilian steel importers sold cold rolled austenitic stainless steel products from the steelmaker Bahru Stainless SDN.BHD. (Bahru), according to the DOU.
Bahru is part of Acerinox Group, a company that is listed in Spain on the Madrid Stock Exchange.