9,433.80 TRY BIST 100 BIST 100
46.08 EUR EUR EUR
39.71 USD USD USD
5.57 CNY CNY CNY
0.12 CNY CNY/EUR CNY/EUR
42.95 TRY Interest Interest
68.12 USD Fossil Oil Fossil Oil
46.49 USD Silver Silver
4.94 USD Copper Copper
93.00 USD Iron Ore Iron Ore
329.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,265.13 TRY Gold (gr) Gold (gr)

Brazil takes action against steel imports found to have origin diversion

Brazil's Ministry of Development, Industry, Trade and Services (MDIC) has uncovered a steel import scheme in violation of trade defense measures.

Brazil takes action against steel imports found to have origin diversion

The investigation, conducted by the Ministry's Secretariat of Foreign Trade (Secex), found that the origin information of the steel products in question was misleading and that importers resorted to origin diversion in order to avoid high customs duties.

As part of the investigation, it was determined that most of the cold-rolled steel products examined were produced in Indonesia, which is located in Southeast Asia, contrary to what was shown in the documents. Brazil has been imposing an additional duty of 18.79 percent on these Indonesian products since 2022. Secex announced that as a result of the investigation, these products are in fact of Indonesian origin and should be subject to the measure in force.

“This decision reinforces the federal government's commitment to strictly enforce rules of origin and protect national industry against unfair trade practices,” Foreign Trade Minister Tatiana Prazeres announced in an official statement.

Published on June 24, 2025 in the Official Gazette, the decision was formalized by a regulation that found irregularities in a total of five different types of cold-rolled steel products. The Ministry also announced that it will implement stricter inspections in import processes to prevent similar cases in the coming period.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

New era in ship recycling: Hong Kong Convention entered into force

Thursday, June 26, 2025

SULB receives 2025 International Safety Award from the British Safety Council

Thursday, June 26, 2025

TÜİK announced June confidence indices for three sectors

Thursday, June 26, 2025

UNESID: Spanish steel industry is ready for transformation

Thursday, June 26, 2025

Vietnam proposes AD duties on Chinese HRC

Thursday, June 26, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now