Latest news with #importação
Reuters
28-05-2025
- Business
- Reuters
Brazilian steel companies' shares fall after government renews tariff system
SAO PAULO, May 28 (Reuters) - Stocks of Brazilian steel companies fell on Wednesday after the government said it would renew for 12 months a system meant to protect the national steel industry, but that steelmakers have said is ineffective. The steel industry began criticizing the quota system almost as soon as it was set up last year, saying it failed to control the flow of imports, mainly from China. Under the system, as long as the import quota is not reached, steel products can enter the country if they pay import tax of between 9% and 16%. If the cap is exceeded, a 25% tariff applies, Brazilian government news outlet Agencia Brasil said. On the first day of trading following the announcement, CSN ( opens new tab was down 4.4%, Usiminas ( opens new tab dropped 3.6% and Gerdau fell ( opens new tab 1.2%. Brazil's benchmark stock index Bovespa fell only 0.5%. The system, which has been expanded to now include 23 steel products, was already criticized by the sector for being too broad. Tuesday's government announcement retained the exclusion - also criticized by the industry - from the quota and tariff system of imports from countries that have trade agreements or negotiated special conditions with Brazil. The steel sector has urged the government to renew the scheme with the inclusion of all steel products in the 25% tariff, as the European Union and the United States have done. Steel imports rose 27.5% year-on-year in the first four months of 2025, reaching 2.2 million metric tons, according to data from the country's steel mills association, Aco Brasil, which did not comment on the matter on Wednesday.
Al Arabiya
07-05-2025
- Business
- Al Arabiya
Portugal allows limited power imports from Spain after blackout
Portuguese grid operator REN will allow utilities to resume imports of electricity from Spain, but the transmission capacity will be limited to around one-third of the levels seen before the huge power blackout in the two countries on April 28. Spain suffered a catastrophic outage in its electricity grid on that day, which also left Portugal, which was importing cheaper renewable energy from its neighbor, without power. The causes of the incident are still being investigated. In a message on its energy markets information system portal, REN said on Wednesday 'the interconnection capacity between Portugal and Spain will be limited, in the importing direction, to 1 gigawatt (GW), in the May 8-12 period'. Immediately before the power outage in Iberia, Portuguese power companies were importing around 2.76 GW from Spain, according to REN's Data Hub portal. After restoring its power supply, Portugal has been serving clients from its own sources, including renewables, gas and hydropower, shunning any power exchanges with Spain. Authorities and independent experts in Portugal, Spain and Europe are investigating the causes of the outage that could take months to determine, according to Portugal's Energy Minister Maria da Graca Carvalho.
