25.02.2024

The largest manufacturers of rolled metal imports in the EAEU

PJSC Magnitogorsk Iron and Steel Works, PJSC Novolipetsk Iron and Steel Works and PAO Severstal asked the Eurasian Economic Commission to conduct an investigation into the increase in the volume of rolled metal imports into the territory of the Eurasian Economic Union.

The start of the investigation is reported on the ECE website. The materials of the commission communicate the reasons why companies asked to conduct an investigation (pdf).

As noted, Russian companies pointed to the adoption of protectionist measures by a number of countries, including the United States, in respect of steel products, which has already begun to lead to a redistribution of imported metal products flows in the world market.

“The statement provides evidence of increased volumes of imports of certain types of metal in the Eurasian Economic Union.

Increased imports were the result of unforeseen circumstances, such as the overproduction of steel in the world and the increase in the use of special protective and anti-dumping measures for steel products in various countries in 2015–17.

Excessive production capacities and, as a result, overproduction of steel have led to an increase in the supply of steel products to world markets. In addition, the number of applied and planned measures to protect the domestic market, including in the United States, with respect to steel imports, increased under 232 articles of the Trade Expansion Act in 1962.

This led and in the future may lead to a redistribution of imported metal flows in the world market, including in the EAEU market. Such an increased import of certain types of steel products may have a further negative impact on the financial and economic condition of the applicant enterprises. ”

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