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The intention is to exclude local taxes from the prices’ calculation methodology.
Currently, all our domestic flat steel prices in Brazil – Brazil domestic cold rolled coil ex-works Reais per tonne monthly, Brazil domestic hot-dipped galvanized coil ex-works Reais per tonne monthly, and Brazil domestic hot rolled coil ex-works Reais per tonne monthly – include federal taxes (called PIS/COFINS).
Meanwhile, the local rebar price – Brazil domestic rebar delivered Reais per tonne monthly – includes not only PIS/COFINS, but also the ICMS state tax.
The consultation period for these proposed amendments will end one month from the date of this pricing notice, with changes taking place on Thursday January 4.
To provide feedback on the amendments outlined above, or if you would like to provide price information by becoming a data submitter to the Brazilian steel price assessments, please contact Ana Paula Camargo by email at: pricing@metalbulletin.com. Please add the subject heading FAO: Ana Paula Camargo, re: Brazilian steel prices.
To see all Metal Bulletin’s pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodology.html