EU sets 19.8–26.2% duty on Russian cold rolled steel

MOSCOW, Feb 12 (PRIME) -- The European Commission has introduced a 19.8–26.2% duty on imports of Russian cold rolled steel, according to documents seen by PRIME Friday.

The authority earlier completed an anti-dumping investigation, collecting data presented by Russia’s Magnitogorsk Iron and Steel Works (MMK), Severstal and Novolipetsk Steel (NLMK).

It said that it took into account an exceptional state of the Russian economy in the period of investigation and devaluation of the ruble which reached its lowest in 10 years.

As the result, MMK had a 19.8% dumping margin, Severstal 25.4% and NLMK 26.2%.

The E.U. also took into consideration the lack of competition on Russia’s metals market and limits for competition with foreign producers.

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