NLMK asks US court to cancel import duties on Russian slabs
MOSCOW, Mar 2 (PRIME) -- NLMK Indiana and NLMK Pennsylvania, subsidiaries of Russian steelmaker Novolipetsk Steel (NLMK), have filed a suit to the U.S. court of International Trade asking it to consider a denial of the U.S. Treasury Department to exclude Russian steel slabs from import duties under section 232 of the U.S. Trade expansion Act, NLMK said on Monday.
Operations of the U.S. division of NLMK depend on imports of steel slabs and local capacities for processing of steel into rolled steel exceed local capacities for production of slabs, the company said.
УTaking into account structural deficit, NLMK USA has filed claims to exclude Russian slabs from the impact of measures under 232 section in 2018. Three U.S. steelmakers Ц AK Steel, Nucor, and US Steel Ц filed objections to the exclusion in spite of their inability to supply the necessary amount and types of slabs,Ф NLMK said.
УThe company thinks that the U.S. Treasury Department did not make an effort to check the objections, ignored the proof that these companies donТt produce the products in the necessary quality and quantity, and provided no substantiated reasons for its decision.Ф
In 2018, the administration of U.S. President Donald Trump imposed import duties of 25% on steel and of 10% on aluminum due to national security reasons.