Leticia Simionata

Jan 31, 2024 | fastmarkets.com | Boris Mikanikrezai |Jane Li |Andrea Hotter |Leticia Simionata

The change will result in two aluminium premiums: one for the low-VAT market and another for high-VAT P1020A. Brazil’s aluminium production capacity increased in 2023, leading the government to end a duty-free quota it had introduced in 2014, essentially deeming the country self-sufficient in terms of primary aluminium production. And with domestic material gaining in importance due to diminishing imports, the difference between ingot sold with low- and high-VAT has become more pronounced.