Brazils Ministry of Development, Industry and Foreign
Trade (MDIC) has "requested more time to deepen the technical
analysis" related to a request for a ferrous scrap export
The request, therefore, had "not
been analyzed" Feb. 5 by the council of ministers of the
Chamber of Foreign Trade (Camex), as originally scheduled, MDIC
The export tax, requested by
Brazilian steelmakers association IABr in August, received
intense criticism from Inesfa, the institute of iron and steel
Inesfa filed an objection to
IABrs request two weeks ago, saying that a tax would
inhibit exports, result in excess scrap in Brazil and,
consequently, lead to lower prices in the domestic market.
Inesfa said the scrap sector
"celebrated the decision" taken by Camex. "The illegality of
IABrs demand, formulated as a measure of
reciprocity, was patent and configured retaliation,
a practice widely condemned by the (World Trade Organization),"
André de Almeida, Inesfas legal adviser and a
lawyer at Almeida Advogados, said in a statement.
Brazils scrap sector will
now work "for the (export) tax not to return to the government
agenda," Inesfa said.
A version of this article was first published by AMM sister
publication Steel First.