Brazil's imports of steel are expected to keep growing into the early months of 2025, despite expectations of further antidumping measures and higher prices.
Brazil's imports of steel are expected to rise by about 3pc in the first months of 2025 from the same period in 2024, the country's steel distributors association, INDA, said on Tuesday.
The country imported over 2.35mn metric tonnes (t) of flat steel from January-October this year, up by 17.7pc from a year earlier, INDA said. In October alone, Brazil imported over 276,400t of flat steel, a 35pc increase compared with October 2023.
"With the high import volumes, independent traders not associated with INDA gained a lot of space (in the market)," INDA told Argus.
Brazil is facing a slew of imported products coming from China, with some local producers claiming that the Asian country is dumping its products in the South American nation.
Brazil's government imposed new tariffs on imported steel products in June after it analyzed claims that the imported products harmed domestic production.
Aside from the new tariff system, the government has also announced some antidumping measures, and is analyzing other tax actions to curb such dumping.
INDA also said the industry expects Brazil's apparent steel consumption to increase by around 5-5.5pc in 2025 from 2024.
