USA introduces anti-dumping duties for cold-rolled products import of Severstal and NLMK
The US Ministry of Trade has preliminarily decided that the duty up to 266% will be imposed on the import of cold-rolled steel from China, Russia, Brazil, India, South Korea, Japan and UK. A 71.35% duty is set for Japan.
The final duty rate is to be confirmed later in 2016, until that moment the duties collected from suppliers will be accumulated on a deposit account by the US Customs authorities.
The global steel market faces the excess production.
China is the 7th largest importer to the USA by the volumes of cold-rolled steel supply, but the largest duties are set in respect of it. For all other producers and exporters of cold-rolled steel from Russia the duty will be about 14.76%. In the USA the prices for hot-rolled steel fell by about a third in 2015 and that led to multi-billion losses of the leaders of the sector. The supplies of Severstal don’t exceed a few dozen thousand tons, the company said.
