It is reported that the Venezuelan government has controlled the steel import strictly in order to protect the local steel industry. However, the local buyers expected the government to authorize the second round of steel imports in order to release the tight supply.

It's learned that the country's domestic demand for steel products has continued rising; however, Sidor, the country's largest steelmaker has kept running at low capacity utilization rate and it caused shortage of steel products.

In June 2012, the Venezuelan government has authorized certain companies to import around 90,000 tonnes of steel products, mainly steel products for construction and oil & gas industry.

The local buyers expected that the government could increase the import volumes of hot rolled coils and cold rolled coils to 60,000 tonnes for automobile sectors.

Source -www.yieh.com)

(www.steelguru.com)