EU Sets Steel Import Quotas For Ukrainian Steel

Ukraine’ssteel import quota for the EU will be increased from 700 K mt to 980 K mt in 2005, and 1,005 K mt in 2006. The agreement will become valid on the condition that Ukraine reduces its EUR 30 export duty on scrap. According to EU officials, the agreement will be signed by August and will end immediately upon Ukraine’s admission to the WTO. Concorde Capital: The new quota anticipates that 595 K mt of flat steel products (59% of the 2005 quota). This steel is mainly produced by Maruipol Illicha (MMKI: Hold), Zaporizhstal (ZPST: Buy) and Alchevsk Iron and Steel (ALMK: Buy). The remainder of the tariff has been allocated for long steel products used mostly in the construction industry.