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STXNEWS LATAM-Brazil imposes anti-dumping penalties on steel imports

Brazil's Foreign Trade Chamber, a trade and industry body, on Thursday implemented anti-dumping penalties on imports of steel plate from China, South Africa, South Korea and Ukraine. According to a post in Brazil's government gazette, the penalties will last up to five years and will be applied on "such material produced in those four countries."

The penalties, in the form of surcharges, will range from $135.08 to $261.79 per tonne. According to Carlos Loureiro, president of Brazil's National Institute of Steel Distributors, the move will penalize about 10 percent of the volume of plates purchased in Brazil.

The decision comes after the Brazilian government said it would phase out a hike in imports of some flat steel products.

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