Brazil to implement new tariff-free import quotas for primary aluminum by end 2019
It was reported that the Brazilian government announced on Monday (August 5th) that the Brazilian Foreign Trade Chamber (Camex) has approved the new tariff-free import quotas for primary aluminum and the country will implement the measure before December 31st.
According to the agreement, the new quota exempted the 6% import tariffs by up to 141,250 tons, which was only 50% of the previous tariff-free quotas.
It was still unknown if the rest 141,250 tons will be exempted from tariffs in the first half of 2020 or not, or Camex will just determine to extend the period of quotas instead of giving new quotas.
Separately, the previous quotas have expired at the end of June, which pressed some market participants to pay tariffs or keep their primary aluminum into bonded warehouses since early July.
