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Eurasian Economic Commission to introduce duties on Ukraine’s ferroalloy

June 06, 18:11 UTC+3 MOSCOW
The Eurasian Economic Commission decided to introduce an antidumping duty of 26.35% of the customs value on Ukraine’s ferrosilicon manganese for five years
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© Donat Sorokin/TASS

MOSCOW, June 6. /TASS/. The Eurasian Economic Commission (EEC) made a decision to introduce an antidumping duty of 26.35% of the customs value on Ukraine’s ferrosilicon manganese for the term of five years, the EEC said on Monday.

The weighted average price of Ukrainian ferrosilicon manganese was below the weighted average price of the counterpart alloy from third countries from January 1, 2011 to June 30, 2014, the EEC said. Furthermore, its price was much lower than the industry price in the Eurasian Economic Union (EAEU) throughout the review period.

"Huge volumes of Ukrainian ferroalloy supplied at dumping prices to the EAEU market adversely affected producers in EAEU nations, which were forced to reduce prices even despite a fairly low level of returns," the EEC said.

The decision on duties will come into force in 30 calendar days from its promulgation date.

The share of Ukrainian supplies in total EAEU imports equaled 84.1% in the first half of 2014.

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