The real effect of the U. S. universal 10% duty can be estimated only with time, as the new trade conditions have just come into force and none knows how the market situation will evolve, ArcelorMittal Kryvyi Rih CEO Mauro Longobardo has said.
At the same time, the company customers in the USA are trying to decrease their expenses forcing the company to lower prices for pig iron, which is its main export product for the American market.
“Due to the duties, our customers in the USA will have to pay 10% more, so they are forcing us to decrease pig iron prices. At the same time, the USA doesn’t have enough raw materials inside the country, so they will have to buy it in other countries anyway and pay these additional 10%,” he said.
Now AMKR exports only pig iron to the USA, as its other products, rebars and rolled wire, are hit by an additional antidumping duty of 40%.
“This makes the US market inaccessible for us,” Longobardo noted. (Ukrainian metal)