The Brazilian aluminium industry association, Abal, expects to propose a new duty-free import quota to national foreign trade chamber Camex in a month's time, its president, Milton Rego, told Fastmarkets on Tuesday August 25.
Market participants have been apprehensive for more than a month now about the possibility of filling quota volumes before the year-end. Imports of primary aluminium are free of a 6% import duty as long as the total volume for the whole year of 2020 does not exceed 150,000 tonnes.The quota period was initially six months, ending on June 30, but on June 24 Camex extended the expiry date to December, although it did not increase the 150,000-tonne...