Final US-Russia hot-roll steel suspension accord is signed

Dec 03, 2012 | 04:47 PM | Catherine Ngai

Tags  traders, steel, Russian steel, steel imports, suspension agreement, Catherine Ngai

NEW YORK — The United States and Russia signed a revised suspension agreement for hot-rolled steel Friday that pushes the minimum price for Russian material sold into the U.S. market up by some 47 percent.

The deal is an amendment to a long-standing agreement between the two parties. The agreement, which first went into effect in 1999, allows Russia to send steel to the U.S. market as long as it falls below a certain annual volume threshold and above a certain quarterly pricing point. Earlier this year, the U.S. Commerce Department....

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