The Brazilian steel distributors institute Inda reported that 2024 steel imports are projected to exceed 2023 levels by at least 10%, despite new quotas and tariffs imposed by the government in June.

From January to September, steel plate imports reached 2.08 million tons, marking a 15.9% increase year-on-year, primarily from China. Some 240,000 tons have arrived at Brazilian ports but await processing.

Domestic steel prices are about 20% higher than import prices, limiting local producers' ability to raise prices. Imports continue to erode Inda plate dealers' market share, now at 73%, down from 86% between 2000 and 2010.