7 August 2016

EU introduces duties on Russian cold-rolled steel

The European Union decided to introduce anti-dumping duties on Russian cold-rolled steel. The lowest tariffs at the level of 18.7% are set for MMK. Fees for Severstal are 34%. NLMK will have to pay a tax of 36.1%. The fee for other manufacturers is 36.1%. The European Union believes that the dumping margin for NLMK and other Russian companies is basically as high as 38.9%. The indicator for MMK is 18.7%, for Severstal 35.9%. Chinese chilled-rolled products also do not pass this cup. Fees for Chinese manufacturers will amount to 19.7-22.1%. Duration of duties is five years. Russian companies are not enthusiastic about the decision.

MMK representatives assure that the cost of supplies was assigned in accordance with market prices. International norms were also not violated. The company is going to challenge this decision. Representatives of NLMK talk about the bias of the investigation and numerous violations. The Russian company provided its own data for investigation. However, the information was completely ignored. The European Commission used the data of other companies for calculations. The calculations themselves were also fabricated. As a result, NLMK imputed dumping, which does not really exist. Complaints about violations in the competent authorities remain unanswered. NLMK also plans to challenge the appointment of duties. Representatives of the company claim that she is interested in an exceptionally fair competition. European enterprises produce similar goods in a rather large amount. Severstal is also dissatisfied with the Commission's decision. Representatives of the company speak about conducting fair trade. Severstal's actions comply with all international rules. The company intends to defend its own right using all available methods.

Anti-dumping preliminary tariffs were introduced earlier this year. In May, duties were revised, their amount increased. Previously, the tariff for Severstal's products was 25.4%. The duty to hire NLMK previously was 26.2%. For other manufacturers, the previous tariff reached 26.2%. MMK, the only company, did not increase the duty, but lowered it. Previously, it was 19.8%. Annually Severstal supplies European consumers about 200-250 thousand tons. In 2015, NLMK shipped 350 thousand tons to Europe. MMK delivered about 100 thousand tons.

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