Brazil Govt. approves duty-free import of 350,000 tonnes aluminium for 2022
On 22nd December 2021, the official gazette of the government of the largest country in South America and Latin America, Brazil notified that it has sanctioned a duty-free import quota for non-alloyed aluminium of 350,000 tonnes for 2022.
However, on 21st December a conclusive decision was drawn by the executive management committee (Gecex) of Brazil’s foreign trade chamber (Camex), a part of the Ministry of Economy, Govt. of Brazil.
Following the inflow of 350,000 tonnes of P1020 aluminium into the nation exhausting the duty-free import quota, the remaining import will be levied with a 5.4% import duty.
In recent past, the Brazilian aluminium industry associates market participants overhear that the import quota could be as around 230,000-260,000 tonnes, as the overall anticipation was for diminished volumes compared with 2021, particularly due to leading aluminium producer Alcoa Corporation has tooled up on a project to restart an idled aluminium smelter in Brazil following the hike in aluminium prices to a 13-year high and Chinese output reduction.
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