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Eurasian Economic Commission Lowers HR Steel Imports Quota

Steel News - Published on Fri, 16 Aug 2019

Image Source: EEC
The Eurasian Economic Commission, comprising of Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan, will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union for one year starting from December 1, 2019. The total quota for the EEU bloc will be 1.33 million tonnes and volumes exceeding the quota will be a subject to a 20% special duty. The defensive measure will not be applied to shipments from developing countries, the least developed countries or to shipments from the Commonwealth of Independent States. The measures will, however, will apply to imports from former CIS associate member Ukraine.

The quota is lower than the amount of HR flat steel imported by Russia alone in 2018.

The EEC opened the trade case after three Russian flat steel producers Magnitogorsk Iron & Steel Works, Novolipetsk Steel and Severstal lodged a complaint in August 2018.

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Posted By : Ratan Singh on Fri, 16 Aug 2019
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