US-Russia flat-roll deal to curb imports: market
Nov 19, 2012 | 04:22 PM
| Catherine Ngai
Tags
suspension agreement,
Russia steel,
Commerce Department,
ITA,
hot-rolled coil,
plate,
steel,
Catherine Ngai
NEW YORK — The flow of Russian hot-rolled steel into the U.S. market will likely slow due to uncompetitive prices following last week’s revised U.S.-Russian suspension agreement, market sources told AMM.
Under the terms of the draft agreement, the minimum prices for Russian hot-rolled steel sold in the United States would be increased to "bring them into alignment with current U.S. prices."
Reference prices for the three months ending Dec. 3 will rise about 47 percent, with commercial- and structural-quality steel moving to $601.75 per tonne from $409.01 per tonne, high-strength low-alloy steel to $661.92 per tonne from $449.05 per tonne, and high-grade coil and sheet for pipe and casing to $770.24 per tonne from $522.10 per tonne.....
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