SÃO PAULO Brazilian flat steelmaker Cia.
Siderúrgica Nacional (CSN) expects cold-rolled coil and
hot-dipped galvanized coil to be included in a new list of
goods that will have temporarily higher import tariffs.
"Domestic ... markets continue to be threatened by Chinese
imports," commercial executive director Luis Fernando Martinez
said in a conference call with analysts Nov. 1.
The Brazilian government announced in September that it
would temporarily raise the import duty on 100 products from
several sectors by as much as 25 percent (
amm.com, Oct. 2). This includes steel materials
such as hot-rolled coil and heavy plate.
"The inclusion (on the new list) would make sense mainly for
the galvanized products, as an anti-dumping (duty) has been
recently denied," Martinez added.
Brazilian foreign trade secretariat Secex announced in
September that its investigation into imports of coated flat
steel products has failed to establish any anti-dumping
Martinez noted that price premiumsthe difference
between domestic and international pricesfor cold-rolled
coil are currently at 7 to 9 percent while premiums for
hot-dipped galvanized are at 10 to 12 percent.
Price premiums for hot-rolled coil are set at 2 to 6
percent, and "this difference may disappear or could even be
negative with the increase on hot-rolled coil import duties
from 14 percent to 25 percent as a result of the Secex existing
list," he said.
Moreover, the executive confirmed that CSN raised its flat
steel prices by some 3.5 to 5 percent to domestic distributors
for deliveries starting Sept. 1, which accounts for 30 percent
of the companys total sales volume.
"These increases may contribute to improve the
companys revenues in the current quarter," he added.
A version of this article was first published by AMM
sister publication Steel First.