18.01.201819:29:00UTC+00BRAZIL: Camex Refrains From Adopting Antidumping Duties On Steel Imports

The Brazilian Foreign Trade Chamber (Camex) refrained from adopting anti-dumping duties to imports of rolled steel from Chinese and Russian companies for now, said the Minister of Planning, Dyogo Oliveira, after a meeting.

According to the minister, the Camex committee found that steel imports from these companies represent only 6% of the market and that in the last two years the product became more expensive. Therefore, according to him, at the moment there is no need to apply the overcharge.

The minister said that despite suspending the possible overcharge, Camex approved an investigation about the steel sales of the companies accused of dumping steel in the country. He added that anti-dumping measures might come into force if new evidence comes up.

"The message is that there is no tolerance in the Brazilian market for dumping practices," he said.

According to Oliveira, the Camex decision was consensual, as some members were in favor of the new duties. The Commerce Ministry MDIC was in favor of applying the overcharge, while the Finance and Agriculture ministries were against it. Earlier this week, the Finance Ministry had already issued a statement arguing that the antidumping duty would hurt other sectors.

The request for adoption of the overcharge on Russian and Chinese steel was made in 2016 by Brazilian steelmakers.