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  • 2007 February 20 11:00

    Russia slaps three-year anti-dumping duty on EU stainless steel

    The Russian government has decided to impose a three-year anti-dumping duty of 840 euros per tonne on steel with nickel content of 2.5% or higher imported from the European Union, according to a government resolution, Interfax reports.

    The duty enters into effect a month after its official publication in Rossiiskaya Gazeta on February 20.

    The Russian Economic Development and Trade Ministry started the anti-dumping probe on October 27, 2004 following a complaint filed by the Mechel (RTS: MTLR) steel group's Chelyabinsk Iron & Steel Works (RTS: CHMK) on behalf of Russian stainless steel producers. Russia's producers claimed that imported stainless steel was being sold in Russia for half its price on the EU market.

    The ministry in November 2005 recommended a duty of 800 euros a tonne on stainless steel originating in the EU.

    Russia produced 105,500 tonnes of stainless steel in 2006 - 34.9% more than in 2005.
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