2024-04-27 13:34:19
The largest steel company in Chile, Huachipato, announced yesterday the resumption of its operations, suspended a month ago, following the decision of authorities to temporarily tax the chinese steel that flooded the market.
The directory of Huachipato said that “the decision has been made to reverse the indefinite suspension process that was communicated to the market” on March 20, the private steelmaker said in a statement addressed to the financial market.
Consequently, the company reported that it will “continuity” to its activities “as long as surcharges remain in force” that allow it to “operate in a competitive environment.”
On Saturday the ministry of Hacienda imposed provisional taxes on Chinese imports of steel bars and balls from the 24.9% y 33.5%, respectively.
Both inputs are key in the grinding coppermade, whose world production leads Chile. Huachipato stressed, however, that the tax burdens approved against its Chinese competitor are “provisional measures”.
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2024-04-27 13:34:19