The Russian government has decided to temporarily cancel the five percent import duty for selected corrosion-resistant hot rolled steel (semi-finished products used in the manufacture of stainless flat rolled) for the nine-month period starting from August 3, 2007.
The products under the following HS Codes are affected by this governmental decision: 7219 12 900 0; 7219 13 100 0; 7219 13 900 0; 7219 14 100 0; and 7219 14 900 0.
This decision may be explained as a Russian government attempt to support domestic stainless producers, in particular Mechel.
Russia's five percent duty for corrosion-resistant flats was introduced in November 2006.