After a year and a half of ponderation, Brazil’s aluminum industry obtained from the Brazilian government a positive answer to one of its main recent grievances: the application of compensatory measures on rolled products (plates and sheets) brought in from China. These rates, imposed by the executive committee of Brazil’s Gecex foreign trade regulator, are 14.88% and 14.93%, levied on Chinese products. “This is a historic achievement for the Brazilian aluminum industry, which creates fair trade practices and security to invest in the country’s aluminum industry chain to guarantee supply,” said the executive president of the industry association Abal, Janaina Donas. The definition of the measures will come into effect on April 1. The measures will be valid for up to five years and may be extended for longer periods.
Sources: Valor Econômico/Datamar News