Analysis
September 29, 2023
CRU: Brazilian Steelmakers Scale Back Amid Calls for Import Duties; Mexico Imposes Them
Written by CRU Americas
ArcelorMittal said it expects to produce less steel than previously forecast in Brazil. Gerdau has hinted at potential layoffs as imports surge. The Brazil Steel Institute is asking the government to raise import levies to 25% from the existing 9.6%. Meanwhile, Mexico has applied levies to some steel imports.
Jefferson De Paula, who heads ArcelorMittal’s operations in Brazil, said the company now expects to produce 1.3 million metric tons less steel this year than the previously projected range of 15-16 million metric tons.
