The US Department of Commerce (DOC) has revised the suspension agreement with Ukraine regarding cut-to-length carbon steel plate.
The DOC has replaced the current agreement, which is based on non-market economy principles, with an agreement that has been negotiated with the three largest Ukrainian plate producers on market-economy principles. The new suspension agreement will go into effect November 1, 2008.
The Ukranian plate producers that the DOC negotiated the new agreement with are: OJSC Alchevsk Iron & Steel Works, Azovstal Iron & Steel Works, and Illyich Iron & Steel Works. Under the new agreement, these producers must submit their cost data to the DOC in order to receive Normal Values for their products, and US customers must rely on the Ukrainian producers for information about an individual producer's Normal Value for specific products.
Although the new agreement will go into effect November 1, the participating producers agree not to sell any plate covered by this agreement until the DOC releases the first Normal Values. Export licenses issued under the current non-market-economy suspension agreement prior to November 1 will still be valid until their expiration date (which is 60 days after issuance).