US cuts Q4 quota for imports of Brazilian semi-finished steel

The United States' government has reduced the Section 232 quota for imports of semi-finished steel products from Brazil in the fourth quarter, according to a proclamation from president Donald Trump published late on Friday August 28.

Brazilian producers of slab and billet are now allowed to export up to 60,000 tonnes of such products to the US in October-December; previously, the limit was around 350,000 tonnes. 
"In light of recent deterioration in market conditions brought on by the Covid-19 pandemic affecting domestic steel producers, the United States has deemed it necessary to reduce the remaining quota for Brazilian semi-finished steel products for the remainder of 2020 to 60,000 metric tonnes, down from 350,000, but will maintain existing quotas for other steel products," according to a release from the US Trade Representative on Monday August 31.

Tons imported into the US during the fourth quarter also must have been contracted prior to August 28 and must receive...

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