Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US President Donald Trump and Brazilian President Jair Bolsonaro recently discussed their steel trade issues, the latter Tweeted June 1.


Brazil has had restrictions on its steel to the US, which Bolsonaro said could be alleviated by expanding the G7 to include to Brazilian membership.


Before he spoke with Trump, Bolsonaro met with Marco Polo de Mello Lopes, executive president of the Brazilian Steel Institute, who requested that Trump review the existing quota imposed on Brazilian steel exports to the US, according to a media report.


The Brazilian steel industry also asked Bolsonaro to protect the domestic market against South Korean and Chinese imports.


Brazil steel industry has been hit hard by COVID-19, and as a result the country’s steelmakers are working at 40pc of their installed capacity, Mello Lopes said, adding that it should be at 80pc, according to reports

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