ferroalloy Ukraine

The amount of customs duty on ferrosilicomanganese from Ukraine is 26.35% of the customs value

The Eurasian Economic Union (EEU) has extended the anti-dumping duty on ferrosilicomanganese from Ukraine for another five years. It is reported on the website of the Eurasian Economic Commission’s (EEC) board.

According to the message, the decision was made based on the results of a repeated anti-dumping investigation launched by the Internal Market Protection Department of the EEC in June 2021, on the eve of the customs duty’s expiry. The investigation was conducted on the basis of the statement of two Russian enterprises – the Chelyabinsk Electro Steel Plant and the West Siberian Electro Steel Plant, which was supported by three Kazakh producers of ferroalloys.

“The analysis of the received information made it possible to draw a conclusion about the possibility of resuming dumped imports of goods and harming the economic sector of the EEU in the event of the termination of the anti-dumping measure,” the EEC reported.

Currently, in the EEU countries, ferrosilicomanganese from Ukraine is subject to an anti-dumping duty of 26.35% of the customs value. The measure was introduced in 2016 until October 27, 2021, and then extended until December 24, 2022.

As GMK Center reported earlier, Ukrainian ferroalloy enterprises in October 2022, according to the data of the State Customs Service, reduced exports of ferroalloys by 72.5% compared to the previous month – to 6.49 thousand tons. In monetary terms, deliveries of ferroalloys abroad for this period increased by 65.6% m/m – up to $9.15 million. In October 2022, the export of products of ferroalloy plants decreased by 89.1% in physical terms and by 92% in monetary terms.

Also, in the fall of this year, most of the regional markets for ferroalloys, in particular in China, India and the United States, are experiencing a decrease in demand and, as a result, price fluctuations. In particular, Chinese factories are going to cut production, and European producers are under pressure from the energy crisis.