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Publish Date : 05-Nov-2012

The United States is poised to slap steep anti-dumping duties on Russian hot-rolled steel in early December if the two sides cannot work out a new agreement in the coming weeks, US industry and government sources said on Friday.

At issue is a 1999 pact that established a minimum price for Russian hot-rolled steel sold in the United States. The case pits Nucor Corp and other US producers against Russian steel companies including JSC Severstal, Magnitogorsk Iron and Steel and Novolipetsk Steel.

The US Commerce Department earlier this year made a preliminary determination that the reference price set in the 1999 deal was too low based on current market conditions to protect US producers from harmful imports.

The deadline for a final decision in that review is Friday, Nov 30, although the department is expected to make its announcement on Monday, Dec 3.

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