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Metal Producers Open A New Front In Economic War With Russia.

Metal Producers Open A New Front In Economic War With Russia.

7 February 2008

Ukraine has opened several large antidumping investigations against its northern neighbor. Inguletsky GOK, got the ball rolling by charging Russia with exporting concentrate to Ukraine for 34.7% less than its domestic price. The iron manufacturers Silur and Stalkanat joined the fray by accusing Russia of selling steel rope to Ukraine at 31.6% cheaper than domestically. Additionally, the Kharkiv Bearing Plant accused Russia producers of exporting bearings to Ukraine at 63.8% cheaper prices than in Russia. Concorde Capital: Over the past year Ukraine has increased imports of Russia iron concentrate, steel ropes and bearings. According to IGOK figures iron ore concentrate imports increased by 39% yoy, and the total amount of steel rope imports increased by 46.2%. Moreover, Russia’s share in aggregate iron imports was 43.8%, a 140.8% increase yoy. Officials from the Kharkiv Bearing Plant claim that bearing imports have shot up 295% yoy. It looks likely that after Russia’s onslaught on Ukraine’s pipe, milk and gas intensive industries, Ukrainian producers will enjoy government backing.

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