Russia-led group starts safeguard case on imported flat steel products

The Eurasian Economic Commission (EEC) has started a safeguard investigation into flat steel imports to members of the Eurasian Economic Union, the commission said on August 7.

The case was opened after three Russian flat steel producers - Magnitogorsk Iron & Steel Works (MMK), Novolipetsk Steel (NLMK) and Severstal - lodged a complaint to the EEC.

The decision was made based on evidence that import volumes into the Eurasian economic union increased due to global overcapacity and steel redirection as a result of trade defence measures in other regions.

The United States’ authorities imposed tariffs of 25% on steel and 10% on aluminium imports earlier this year, disrupting regular trade flows.

The European Commission opened a safeguard investigation into imported steel in late March, in an attempt to prevent steel shipments being redirected to the EU market, also a result of the US Section 232 import tariffs.

The products under the EEC’s new investigation include imported hot-rolled (HR), cold-rolled (CR) and coated flat steel.

HR coil and sheets of carbon and other alloy...

Published

Maria Tanatar

August 13, 2018

14:30 GMT

Dnepr