Suspension agreement of U.S. and Russia on CR coil

Suspension agreement of U.S. and Russia on CR coil

According to the reports from the industry as a result of a meeting held on August 22-23, in the presence of the representatives from Russian mills MMK, Severstal and NLMK and from the U.S. DOC, a suspension agreement for the exports of cold rolled coils is reached. This agreement will allow Russian cold rolled coil exports to start again into the U.S. with the requirement of quarterly breakdowns of exported tonnages. Quotas allowed under the comprehensive agreement for 2003 will be decided upon this year's consumption of the U.S.