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Russian companies are going to challenge the decision of the European Commission

21 February 2016

The Russian company «Severstal» and Novolipetsk Steel do not agree with the European Commission's decision regarding the protective duties. Representatives of the companies say their intention to challenge the decision. Installed duties on cold-rolled steel will be used before the end of the investigation. As explained by representatives of the EC, the duty for Russian producers is higher than for China. Status «no cooperation» Russian company MMK managed to escape only. For a company the size of duty will be 19.8%. While on the «Severstal» to impose a temporary duty of 25.4%. The other vendors even less fortunate. For them, the barrage tax reached 26.2%.

CMI representative said that the company plans to challenge the decision. For this purpose all legal means will be used. «Severstal» also hopes to prove his own case. Representatives of the companies accused the European Commission of bias. EC has refused to carry out additional checks. Also, the information provided by companies was not considered by it. NLMK opinion of wrongness EC. However, out of this situation the company expects to benefit. Of course, the proposal rolled in the EU will decrease. However, NLMK has the ability to upload their own facilities, located in Europe. Also reduced competition may affect the cost of cold-rolled steel in the direction of increasing.

At a meeting in Magnitogorsk noted vzrosshee number of investigations involving Russian producers. Arkady Dvorkovich, who oversees the sector, said the need to compromise. According to the vice-premier, the government will hold talks with foreign partners. The main goal — to find a mutually beneficial solution with respect to anti-dumping investigations. In addition to finding a compromise government plans to provide and other support. In particular, exports of products for joint investment projects in other countries.

By the way, not only the European Union is conducting investigations regarding Russian steel products. The ability to evaluate the application of anti-dumping duties, India and Turkey. At the same time, Turkey says about the growth of tariffs for Russian hot-rolled steel. However, the strained relations with the EU is not too impact on the financial performance of the Russian metallurgists. In Europe, delivered a relatively small volume of cold-rolled steel. As a result, monetary loss for the year will amount to 10−20 mln. USD. This opinion was expressed by representatives of Sberbank CIB.

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