US, Russia bicker over pricing used in hot-roll steel decision

Aug 13, 2012 | 08:32 AM | Catherine Ngai

Tags  SteelBenchmarker, hot-rolled, suspension agreement, ArcelorMittal, Nucor, Severstal, MMK, SDI U.S. Steel

NEW YORK — U.S. and Russian steelmakers are disputing the effectiveness of benchmark prices in evaluating whether imports of Russian hot-rolled steel are undercutting the U.S. industry.

Producers from both sides filed comments with the Commerce Department’s International Trade Administration (ITA) in response to a preliminary determination to revoke a suspension agreement covering certain hot-rolled steel products (, May 29).

The ITA said that the agreement—under which hot-rolled steel from Russia isn’t subject to U.S. import duties provided import volumes are below a certain annual threshold and above a certain quarterly pricing point—didn’t prevent the undercutting of domestic prices.....

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