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.