The European Commission imposed duties on stainless steel from Russia and Turkey for five years
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Stainless steel from Russia and Turkey will be subject to duty for export in the next five years. The corresponding decision was made by the European Commission (EC) after the completion of the anti-dumping investigation – steel from Russia and Turkey was supplied at prices below the average market in the EU.
As a result, the duty amounted to 10.5% for the Turkish asset of MMK, for other Turkish steel producers – from 2.4% to 11%. The anti-dumping duty on the metal of the Magnitogorsk Iron and Steel Works is 36.6%, the Novolipetsk Iron and Steel Works – 10.3%, Severstal – 31.3%, all other plants – 37.4%.
The EC notes that imports of Russian and Turkish stainless steel have more than quintupled since 2017, from 196,643 tons to more than 1 million tons. The share of Russia and Turkey in the European market increased from 2.2% to 13.1%.
The investigation was initiated by the European Steel Industry Association. The subject of the investigation was rolled steel with galvanized, magnesium, aluminum coatings. Transformer and high-speed steel were not included in the investigation.
Severstal and MMK are under EU sanctions. In March, the European Union banned imports from Russia of rolled steel, fittings, welded and seamless pipes, however, supplies of steel semi-finished products are still ongoing.
Read more about the steel market in the publication “Kommersant” “This is how steel was sold”.
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