The Brazilian Ministry of Finance announced a 10% reduction in import tariffs for a variety of goods, including primary aluminum, aluminum sheets and aluminum cans, effective June 1, 2022 through the end of 2023. the new effective tariff for primary aluminum under HS code 7601.10.00 is 4.8%; for aluminum sheets (7606.12.10 and 7606.12.90), 9.6%; for aluminum cans (7612.90.19), 12.8%. 12.8%.
Imports of primary aluminum are currently exempt from any duties and the total quota until the end of 2022 is 350,000 tons. According to official data, about 80,000 tons of the quota had been consumed by the end of April. Some Brazilian market participants believe that there will be no new duty-free quotas for primary aluminum imports in 2023 as the Alumar aluminum smelter (capacity 447,000 tons/year), which is currently in the capacity ramp-up phase, resumes production.
Post time: May-31-2022