NEW YORK The U.S.
International Trade Commission ruled in a unanimous decision
Wednesday to revoke anti-dumping duties on imports of
ferrovanadium and nitrided vanadium from Russia.
"The (ITC) today determined that
revoking the existing anti-dumping order on ferrovanadium and
nitrided vanadium from Russia would not be likely to lead to
continuation or recurrence of material injury within a
reasonably foreseeable time," the agency said in a
Steelmaker Evraz Group SA, the
main participant in the trade case on the Russian supplier
side, applauded the ruling.
"Evraz agrees with the decision
by the (ITC) to revoke the Russian ferrovanadium anti-dumping
duty order, which is not needed in todays global
ferrovanadium market," Evraz told AMM in an e-mailed
Ferrovanadium produced at
Evrazs Vanady-Tula facility in Russia was previously
subject to a 108-percent import duty, leading the company to
convert vanadium pentoxide in Canada, the Czech Republic and
Korea to supply its contract customers in the United States,
according to sources.
Tula has the ability to produce
12,500 tonnes of vanadium pentoxide and up to 7,100 tonnes of
Cambridge, Ohio-based AMG
Vanadium Inc., the main respondent on the domestic producer
side, declined to comment.
Market participants didnt
expect an immediate impact from the ruling.
"It increases the flexibility
they (Evraz) have, but I dont think it necessarily means
that theyre going to be in a position to send more
material," one market source said, but added that it could lead
to a better supplied U.S. market down the line. "It may have an
impact on the price premium."
ferrovanadium prices are between $13.50 and $14 per pound,
while in Europe the material is trading between $10.52 and
$10.93 per pound, according to AMM sister publication
Metal Bulletin. Material is more expensive in the
United States partly because few significant international
producers (like South Africa and China) are able to bring
material to the United States without facing anti-dumping
AMG Vanadium told the ITC before
the decision that the domestic market was a lucrative one for
Evraz due to the price premiums and high usage of vanadium in
steel. Evraz countered that dumping material in the country
would be against its interest, as it has long-term formulas in
the domestic market based on published spot prices (
amm.com, July 6).