EU sets final 5-yr duties on cold-rolled steel from Russia

BRUSSELS, Aug 4 (PRIME) -- The E.U. has finally introduced an anti-dumping duty on cold-rolled steel from Russia and China for five years, according to a statement in the official journal seen by PRIME on Thursday.

In February, the European Commission preliminarily introduced a 19.8–26.2% duty on imports of Russian cold-rolled steel following a 6-month investigation, and in June, raised the duty to 34.1% for Severstal, and to 36.1% for Novolipetsk Steel (NLMK) and other metals producers. The duty for Magnitogorsk Iron and Steel Works (MMK) was set at 18.7%.

Spokeswoman for the E.U. Mina Andreyeva said the new duties will be retroactive, covering goods imported in a two-month period before the duties were first introduced.

Representatives of Russian metals producers NLMK, MMK and Severstal said the companies will contest the E.U. measure.

A representative of NLMK said the E.U. investigation of the company's price-forming process was done with many violations and the data presented by NLMK was repalced with information from other companies and faked calculations.

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