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Brazilian trade group opposes proposed scrap export tax

Keywords: Tags  Brazil, Brazilian scrap exports, scrap export tax, IABr, Abram Szajman, Fecomercio, Inesfa, Ana Paula Camargo

SÃO PAULO — Brazilian trade federation Fecomercio is fighting a proposal to tax ferrous scrap exports, Brazil’s institute of iron and steel scrap companies, Inesfa, said.

"The establishment of a scrap export duty goes against the development of national commerce, is contrary to the policies to generate job positions and income and is unfavorable to both environment and society," Fecomercio president Abram Szajman said.

Brazilian steelmakers’ association IABr proposed the tax in a letter to the country’s foreign trade ministry last year, arguing that it would work as a reciprocal measure against countries that impose taxes on their scrap exports.

Inesfa believes the tax would inhibit exports, causing excess scrap to build up in Brazil and leading to price declines in the country’s domestic market.

In February, the Brazilian trade ministry requested more time to "deepen (its) technical analysis" related to IABr’s request.

A version of this article was first published by AMM sister publication Steel First.

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