201 Series: Russia and Market Status

201 Series: Russia and Market Status

Russia's stance in the 201 tariff controversy got a boost when meetings took place in Washington on April 14-16. The topic up for discussion was Russia's ’market status' under WTO rules. The new status enables Russia to review previous antidumping rules, in particular on hot rolled coils, possible trade in steel products not covered by Section 201(S201) tariffs and an increased Russian quota for semis exported into the U.S. Predictions are afoot that Russia will search for loopholes in the S201 rules, similar to other countries, to enable their producers to trade in products whose volume is small on the U.S. market. It is expected that Russia will be partially compensated for S201 losses by more slab exports to the U.S. A way is being found sources say for Russian exporters to reach this year's increased quota of 1.2 million tons allowed by U.S. authorities. Russia's Deputy Economic Development Minister, Maxim Medvedkov commented that the spread of trade barriers in light of the U.S. S201 decision could ruin steel trade globally. Russia is expected to take selective measures to protect its steel industry and Medvedkov told the media he expects the govt. to decide within a month on imposition of compensation duties against Ukrainian and Kazakh galvanized sheet steel imports as well as Ukrainian rebars and rods. He added that the Russian trade ministry is preparing a dossier on the Russian steel market to be considered by U.S. authorities.