EU imposes duty on NLMK electrical steel, company to stay in market
MOSCOW. May 14 (Interfax) - The European Union has imposed a provisional anti-dumping duty of 21.6% on imports of electrical steel produced by Russia's NLMK Group , the EU's official journal said.
NLMK Group, the only producer of electrical steel in Russia, exports about 60,000 tonnes of this product to the EU annually.
NLMK told Interfax that the company disagrees with the EU decision. "Despite the fact that on Russia they imposed the lowest provisional duties among all importers of this type of product into the EU, we don't agree with such a decision and its rationalization and will continue to show through consultations and provision of information that our shipments are not of a dumping nature and are not hurting competition on the European market," NLMK said.
The company said that European consumers of transformer steel are voicing concerns about the imposition of the duties and the anticipated growth of prices for this type of steel.
"Since our trade relations with European consumers are longstanding and constant, NLMK is considering the possibility of maintaining its presence on the EU transformer steel market, remaining a reliable supplier of high quality product for its customers," the steelmaker said.
The duty goes into effect on the day after publication of the decision in the official journal of the EU, in this case on May 14. The duties are being imposed for six months.
