It is reported that Canadian authorities decided to cut AD duty for Ukrainian rolled metal in 3 times after completion of the antidumping investigation.
The duty for the rolled metal produced by Azovstal will be set at 14.7% and the duty for other Ukrainian steelmakers’ products at 20.2%.
As per report despite the fact that prices for Ukrainian rolled metal were recognized as market based, the duties were not cancelled but only reduced to protect domestic producers. The prices for Ukrainian import and domestic rolled metal are the same now.
According to the Millennium capital analyst “This is positive news for AZST and MMKI even if the Canadian market is not a base market for both of the Ukrainian steelmakers. We see good prospects for them on the North American market once demand picks up.” (Millennium capital)