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Brazilian steel exports to US in June triple

Steel News - Published on Fri, 13 Jul 2018

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Folha reported that Brazilian steel mills increased their sales to the US in June, when the 25% tariff created by President Trump came into force in an attempt to reduce imports of the product. In comparison to June 2017, Brazil's sales of steel to the US nearly tripled. In comparison to May, when the production fell as a consequence of the Brazilian truck drivers' strike, exports grew by 395%, as shown by the data of the Ministry of Industry surveyed at Folha's request.

Brazil was not affected by the new tariff; however the country agreed to limit its exports to the average figure of the last three years. The increase is due to the recovery of sales after an unusual performance for the month of May in Brazil - it is also connected to the sharp increase in the price of steel mill products in the American market.

Businessmen say that the new tariff made the price of steel sold to the US increase by 25%.

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Posted By : Nanda Koijam on Fri, 13 Jul 2018
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