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© Reuters The Argentine steel sector warns of its difficulty in importing
Buenos Aires, Oct 18 (.).- The Argentine steel sector has expressed its concern on Tuesday about the impact that the restrictions on access to foreign currency for the payment of imports in force in the South American country have on its activity.
The Argentine Chamber of Steel has assured in a statement that in September “the level of difficulty in accessing the necessary foreign exchange for the fulfillment of the obligations contracted” to import raw materials destined for steel production has been maintained.
The business entity has also expressed its “concern” regarding “how the new regime” of import control will work, which came into force yesterday, Monday; and with respect to “the payment situation for future imports, fundamental with respect to inputs that are essential to maintain the production cycle and that are not produced locally.”
Due to the need for Argentina to take care of its monetary reserves in the face of the shortage of foreign currency, the authorities increased the restrictions to access dollars to pay for imports last June.
From this Monday, a new system for the authorization and control of import operations is also in force.
The Federal Administration of Public Revenues of Argentina has informed this Tuesday in a statement that, on the first day of the new import system, 2,767 procedures were initiated for the purchase of merchandise abroad “with total normality”.
According to data from the Argentine Chamber of Steel, in September production fell by 6% and rolled products fell by 8.3% compared to August, due to scheduled maintenance stops at the country’s main steel plants.
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