A new Brazilian regulation means that steel slab producer Companhia Sider??rgica do Pec?(C)m (CSP) can increase sales of steel to the Brazilian domestic market, according to a ruling published on Thursday July 15.
CSP, a joint venture between Vale (50%), Dongkuk (30%) and Posco (20%), is located in an export processing zone in Brazil's northeastern state of Cear??. As a result, it benefits from certain tax exemptions when selling to the export market, but its sales to the Brazilian domestic market have been limited to 20% of its gross revenues.The new ruling removes this limitation, thus allowing the company to...