DOC and Russia extend suspension agreement on HR steel products

DOC and Russia extend suspension agreement on HR steel products

The US Department of Commerce (DOC) and Russia on July 12, 1999 signed a five-year trade agreement regarding hot rolled carbon steel flat products imported from Russia to the US. With the expiration of the agreement, the quota for subject products imported from Russia would be lifted however DOC and Russia have agreed to extend the agreement. Accordingly, the quota for hot rolled carbon steel flat products imported from Russia for 2005 will be 814'610 metric tons. DOC also announced that it has no intention to terminate or make any revision to the agreement. Reference prices for the first quarter of 2005 will not be released until December 1, 2004.