Venezuela has imposed restrictions on the export of all kinds of scrap metal to halt the outflow if the product to neighboring Colombia and further afield to Italy, India and China, an official of the Venezuelan Steelmaker's Institute, Ives told BNamericas.
"The measure has been established in the new law prohibiting the export of scrap iron in the absence of a license from Seniat [the customs and excise service]," the official said.
The move is in response to a call from the iron and steel industry for measures to protect its supply of raw material in the face of "the indiscriminate export" of the product.
According to IVES figures the export of scrap from Venezuela in the January-November 2003 period was 50,248t.
Colombia was the major destination of the metal with 61,4% (34,008t). The final figure for 2003 has been put at 56,000t representing 11.6% of the country's total output estimated at 480,000t.