Brazil to Lower Tax for Aluminum Beverage Cans Import -Shanghai Metals Market

Hot Keywords

  • Zinc
  • Market commentary
  • Futures movement
  • Copper
  • Aluminium
  • Inventory data
  • Lead
  • Evening comments
  • Macroeconomics
  • MMi Iron Ore Port Index
  • Morning comments
  • Customs data
  • Silicon
  • Li-Ion Battery Cathode Material
  • Nickel

Brazil to Lower Tax for Aluminum Beverage Cans Import

Industry News 05:29:07PM Jun 02, 2010 Source:SMM

June 2 -- The Board of Ministers of Brazil's Foreign Trade Chamber (Camex) decided Wednesday to reduce the import tax for aluminum beverage cans from 16 percent to 12 percent, after a meeting held here a day earlier.

According to Camex, the decision was made due to a sudden increase in the demand for beverages in Brazil in 2010, while domestic can producers were already working at maximum capacity.

In 2009, Brazil produced 14.8 billion aluminum beverage cans, up 11.7 percent compared with the previous year, figures of the Brazilian Association of Manufacturers of Highly Recyclable Cans (Abralatas) showed.

Also according to Abralatas, Brazil has recycled 91.5 percent of the total amount of cans produced in the country in 2008, making it one of the top 10 countries of aluminum can recyclers.

But apparently, this is still not enough for Brazilians. On Tuesday, Camex's Executive Secretary Lytha Spindola said during a press conference that the import of aluminum cans must be quickly facilitated, since the consumption of beer, usually sold in cans, would increase substantially in the country from June to July during the World Cup.

 

Price

more
#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

Brazil to Lower Tax for Aluminum Beverage Cans Import

Industry News 05:29:07PM Jun 02, 2010 Source:SMM

June 2 -- The Board of Ministers of Brazil's Foreign Trade Chamber (Camex) decided Wednesday to reduce the import tax for aluminum beverage cans from 16 percent to 12 percent, after a meeting held here a day earlier.

According to Camex, the decision was made due to a sudden increase in the demand for beverages in Brazil in 2010, while domestic can producers were already working at maximum capacity.

In 2009, Brazil produced 14.8 billion aluminum beverage cans, up 11.7 percent compared with the previous year, figures of the Brazilian Association of Manufacturers of Highly Recyclable Cans (Abralatas) showed.

Also according to Abralatas, Brazil has recycled 91.5 percent of the total amount of cans produced in the country in 2008, making it one of the top 10 countries of aluminum can recyclers.

But apparently, this is still not enough for Brazilians. On Tuesday, Camex's Executive Secretary Lytha Spindola said during a press conference that the import of aluminum cans must be quickly facilitated, since the consumption of beer, usually sold in cans, would increase substantially in the country from June to July during the World Cup.