Minews - Brazil temporarily reduces aluminium import tariff

(Minews) - Brazil’s foreign trade chamber, Camex, has announced a reduction to the import tariff for primary aluminium to 2% from 6%, valid for 180 days.

The benefit, however, is limited to 39,000 tonnes and will expire on August 17 this year.

“Initially, each company will be granted a maximum quota of 5,000 tonnes of the product,” according to an official statement released by Camex.

However, companies can obtain more than one import licence if they can prove that any imported aluminium previously acquired was consumed.

“New concessions for the same company will be conditional on proof of actual dispatch of the goods subject to consumption of previous concessions … and the [new] volume released is to be, at maximum, equal to the volume previously cleared,” the statement added.

The Brazilian government justified the decision citing a “situation of supply shortage” in the country.

Brazilian aluminium imports totalled 19,625 tonnes in January 2014, compared with 1,654 tonnes in the corresponding month last year, according to figures from the country´s trade ministry.

Russia accounted for 10,014 tonnes of the material, while Argentina ranked second, with 9,206 tonnes.

Aluminium exports last month totalled 32,154 tonnes, against 49,676 tonnes in January 2013.