Russia Launches Antidumping Investigation into Ukrainian Cold-Rolled Steel.
5 July 2008
Russian steel mills Magnitogorsk, Novolipetsk and Severstal, which control Russia’s cold-rolled steel market, asked for the investigation, complaining that imports of Ukrainian cold-rolled steel had grown by 149% since 2003. The Russian plants claim that Ukrainian steel makers sold at a dumping margin last year of 26.9%. Andriy Gostik: If the investigation results in anti-dumpingduties, which is likely, the two mills that would be affected are Zaporizhstal (ZPST:Suspended) and MMK Illicha (MMKI: HOLD). Zaporizhstal would suffer the most as its cold-rolled steel exports to Russia constitute about 6% of its total finished steel production. MMKI’s cold-rolled steel exports to Russia are marginal and the company claims to sell its products at prices on par with its Russian competitors, which could help it avoid the duties.
