Gerdau, IABr collaborating on Brazil scrap export tax
Nov 27, 2012 | 11:01 AM
| Juan Weik
SÃO PAULO Gerdau SA has been working with Brazilian steel institute IABr on the formulation of a ferrous scrap export tax.
"Gerdau went with IABr to the government demanding this (export tax)," André Gerdau Johannpeter, chief executive officer of the Porto Alegre, Brazil-based steelmaker, said in a meeting with investors and analysts in São Paulo.
The aim is to impose the tax on exports to countries that themselves have export restrictions, he noted.
"In China, the export tax (on scrap) is 40 percent; in India, 20 percent on average; in Russia, 20 percent to 30 percent," Johannpeter said. ....
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