Severstal plans to continue hot-rolled steel exports to the E.U. market despite the European Commission’s plans to impose antidumping duties, the company said.
Mass media said earlier that the E.U. intends to introduce a 5.3% to 33% import duty on hot-rolled steel imported from Russia, Ukraine, Brazil and Iran. According to Reuters news agency, the new regulations will envisage a 5.3% duty on Severstal, 15% on Novolipetsk Steel (NLMK) and 33% on Magnitogorsk Iron and Steel Works (MMK).
Severstal said that the lowest duty among all exporters would be a competitive advantage.
“A unified minimal price for all products and exporters makes exports with more expensive transportation component more attractive. However, it is yet difficult to evaluate how this step will influence different regional markets inside the E.U.,” the statement read.
NLMK declined to comment on the European Commission’s decision. It only said that its hot-rolled steel products were mainly made inside the E.U. for the local market. NLMK La Louviere produced 770,000 tons and sold around 530,000 tons of the products locally, while only 20,000 tons were exported from Russia. (Prime/Ukrainian metal)