Peru: INDECOPI Discards Investigation of Possible Dumping of Brazilian Steel

Peru’s market regulator and competition agency, INDECOPI, “concluded that there is no threat of harm to Peruvian industry,” ending an investigation initiated in 2017 against claims by local producers, who demanded protection against prices, allegedly lower than market costs, in imported steel bars from Brazil.

Peru opened the investigation to determine a possible case of ‘dumping’ by Brazilian producers, threatening to impose tariffs or restrictions on this commodity if proven. The accusations, also issued against Mexican exporters and producers, would have allowed both countries to increase their participation in the Peruvian market in order to become the main suppliers of the material, vital for the construction industry.

The Brazilian government expressed its satisfaction with the result of the investigation and the decision not to restrict imports of Brazilian steel. “This is an important result for the economic relationship between Brazil and Peru…”