Brazil has scrapped its anti-dumping duties on imports of hot-rolled coil originating from China and Russia.
The country’s foreign trade chamber, Camex, which has been investigating the imports of flat rolled alloy and non-alloy steel for three years, has been notified of the removal of duties on Jan 15.
Brazil’s leading mills, including ArcelorMittal, CSN and Gerdau, requested the investigation back in July 2016.
Post the three-year probe, Camex has now recommended removal of the antidumping duties on imports of HRC from China and Russia.
The dumping margin reported by mills was $256.35/mt for China and Russia origin coils.
HRC suppliers like Hebei, Bengang, Baosteel and Ma’anshan Iron and Steel groups from China, and Russia’s Severstal comapny were also involved in the investigation.
According to reports from Brazil’s department of commerce, flat-rolled products, of alloy and non-alloy steel of a width of 600mm or more; hot-rolled sheets with a thickness of less than 4.75mm; and coils of all thicknesses were investigated.
Antidumping duties on the products classified under HS codes 7208.10.00, 7208.25.00, 7208.26.10, 7208.26.90, 7208.27.10, 7208.27.90, 7208.36.10, 7208.36.90, 7208.37.00, 7208.38.10, 7208.38.90, 7208.39.10, 7208.39.90, 7208.40.00, 7208.53.00, 7208.54.00, 7208.90.00, 7225.30.00 and 7225.40.90, have now been removed.
Brazil’s imports of HRC jumped 1,161pc in 2019 to 321,874mt from 25,517mt in 2018.
In 2019, Brazil imported the highest volume of HRC from South Korea, a 22pc share (71,383mt) in 2019 of the country’s imports, followed by Russia and China, who supplied 58,151mt and 41,405mt.