Brazilian Al industry seeks to cut duty-free import quota by 100,000 tpy

Brazilian aluminium producers are looking to slash the current duty-free import quota in the country by at least 100,000 tonnes per year amid expectations that the Albras smelter will reach full capacity in the coming quarter, market sources told Fastmarkets.

The local industry has petitioned that the amount of aluminium ingot allowed to be imported without duties be set at 180,000 tonnes for 2020. The case is being analyzed by Camex, Brazil's foreign trade chamber.
The current quota ends on December 31 and allowed duty-free imports of up to 142,250 tonnes of primary aluminium since early July. This replaced an annual quota of 282,500 tonnes that expired on July 3.
Albras, a smelter in the northern state of Par?? whose main shareholder is Norwegian company Norsk Hydro - with a 51% holding -, is currently running at 90% throughput and is expected to reach full capacity during the first quarter of next year.

The smelter was forced to run at 50% capacity from April...

Gold stocks mixed after previous week's huge gains

Large TSXV gold multiple driven up by high Artemis weighting

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades