26.06.2024

The largest manufacturers of import of metal products in the EEU

The largest manufacturers of import of metal products in the EEU. PJSC “MMK”, JSC “Novolipetsk metallurgical plant” and JSC “Severstal” has addressed the Eurasian economic Commission with a request to conduct an investigation into the increase in imports of metal products on the territory of the Eurasian economic Union.

About the beginning of the investigation reported on the UNECE website. The Commission communicated the reasons why the company asked for the investigation (pdf).

As noted, the Russian company pointed to the protectionist measures taken by several countries, including the United States, in respect of steel products that had already begun to lead to redistribution of flows of imported steel products on the world market.

“The statement presents information showing the increased volume of import of certain types of metal in the Eurasian economic Union.

The increased imports was a result of unforeseen circumstances such as oversupply of steel in the world and the growth of the use of special protective and antidumping measures against steel products in various countries in the 2015-17 years.

Excess capacity and, as a consequence, the overproduction of steel has led to an increase in the supply of steel products to world markets. In addition, the increased number of implemented and planned measures to protect the domestic market, including in the United States against imports of steel by article 232 of the Law on the expansion of trade in 1962.

This has led and may further lead to the redistribution of flows of imported steel products on the world market, including the market. This increase in the import of some steel products may have a further negative impact on financial and economic condition of the enterprises-applicants”.

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