European Union introduces protective duty on Russian special steel

On last Friday, the European Commission summed up the anti-dumping investigation on the transformer steel market in Europe, the EC reports. The European zone countries set a duty for this steel for China (28.7%), Japan (35.9%), South Korea (22.8%), the USA (22%), as well as for Russian (21.6%) the EC magazine informs. The dumping margin of Russian transformer steel producers, according to the EC, was 29% (for comparison: the USA’s one - 60.1%).

The EC has analyzed the period from July 2013 to June 2014 and has established anti-dumping duties with a proviso: NLMK and companies from Russia may sell the transformer steel on the European market duty-free, but at the price of not less than 1536 euro per 1 ton. If the price of transformer steel will below this amount, the company will have to pay the anti-dumping duty.