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08 November 2007
The European commission has revised the amount of the antidumping fee on ropes for "Severstal-metiz"
A revised anti-dumping fee of 9.7% on exports into Europe for steel ropes and cables produced by JSC “Severstal –metiz” was confirmed in a press release, on the 31st October 2007, by the European Commission.
The decision came into effect on the 1st of November, 2007. This document approved the new amount of the antidumping fee on the ropes of "Severstal-metiz" imported into 27 countries of the European Union. The fee was 36.1% prior to the revision.
“The decision of the European Commission is an additional acknowledgement of the fact that "Severstal-metiz” is considered today as a European manufacturer, - said Olga Naumova, the CEO of the company. Our customers in Europe will certainly receive a benefit from the fee review. Our strategy is to further develop rope sales into Europe. This will be reflected in our pricing strategy whilst taking the revised anti-dumping fee into account.
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On the 5th of May 2000 the European Commission initiated the antidumping investigation concerning the sales of ropes and cables, imported into the EU, against JSC “ChSPZ” (today the Cherepovets plant "Severstal-metiz”) and some other Russian exporters. In the case of the Cherepovets plant "Severstal-metiz” the case was closed - an agreement was reached between the European Commission and “ChSPZ”; this agreement was based on agreed base prices for some kinds of ropes. The antidumping fees were agreed at a rate 36.1% for JSC “ChSPZ” and 50.7% for other Russian manufacturers. Validity of the aforesaid measures was defined by the EU legislation. The decision of the European Commission came into effect for 5 years.
On the 10th of August, 2004, in connection with the EU expansion from 15 up to 25 countries-members, and after half a year as “ChSPZ” sent the application on antidumping measures review, the European Commission initiated the intermediate partial interim review at the initiative of the Russian manufacturers concerning steel ropes import in the EU countries from the Russian Federation.
Preliminary conclusions about this review were received in August, 2005 - after the year period of investigation. The Commission, despite of full dumping failure from the Cherepovets and Orel plants "Severstal-metiz" (dumping margin during the investigation made -4 % (a minus of four percent)), suggested to leave the 36% antidumping fee operating since 2001 without changes.
On the 3d of August 2006, at the request of the European manufacturers concerning the Russian rope deliveries into the EU countries, another investigation was initiated in view of the expiration of 5-years term of the previous measures (so-called "expiry review"). Preliminary conclusions of the European Commission on this case showed the dumping failure from "Severstal-metiz" of rope deliveries into the EU countries (dumping margin during expiry review was -5 % (minus of five percent)). However the European Commission still insisted on 36% antidumping fee operating since 2001.
From the 3d of August 2006 up to the 31st of October 2007 both these investigations concerning ropes were conducted in parallel. Twice the representatives of the European Commission (situated in Brussels) came to Cherepovets for verification visits. The 1st visit was 07/02/2005-09/02/2005; verification in Cherepovets was within the limits of Partial interim review. The second visit was 18.12.2006-21.12.2006 – the verification in Cherepovets within the expiry review. All this time "Severstal-metiz" actively cooperated with the European governmental bodies that led the investigation and answered all asked questions.
As a result of the company protests and arguments, the Commission agreed to apply for dumping margin re-calculation on export deliveries from JSC "Severstal-metiz" in third countries that led to antidumping fee decreasing to 9.7 %.
On the 31st of October, 2007 the EU schedule on the result of both investigations was published. A revised antidumping 9.7 % fee for rope deliveries of "Severstal-metiz” into the EU came into effect for 5 years.
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