Brussels starts another investigation against Russian metallurgical companies

Russian metallurgical companies have become the object of a new investigation of the European Commission (EC): local steelmakers complained of dumping shipments of flat hot-rolled from Russia and four other countries. But, according to the Kommersant’s sources, for a while only 6% of the dumping margin is imputed to the Russian metallurgical companies, and a possible duty of 6-10% will allow them to maintain the basic supply volumes. Analysts estimate the possible loss of the Russian participants of the industry in such situation at only $50-60 million of EBITDA per year.

The EC has initiated the anti-dumping investigation on imports of hot-rolled flat products from Russia, Serbia, Brazil, Iran and the Ukraine. It was started at the request of the steel lobby Eurofer, filed on May 23, the Bulletin of the EC informs. The investigation will concern uncoated flat hot-rolled except electric steel and stainless steel. The Commission will examine the delivery for the period from July 1, 2015 to June 30, 2016 in order to fund the dumping and injury to local producers, as well as the situation in the period from January 1, 2013 to assess whether the tendency evolved then, threatening the EU steelmakers. The investigation will take up to 15 months, the preliminary duties can be introduced in nine months - in spring of 2017.