7/10/2009
NEWS BRIEFS
Russian Association: Antidumping “Too High” a Price
Alexander Semanov, coordinator of the Russian hardware and fastener association RosMetiz, has responded to indications that Russia may apply 36% antidumping duties on imported fasteners by saying he fears the damage that could be done to Russian fastener users and industry generally, Fastener & Fixing Europe reports.
Semanov calculates that the duty on top of other taxes would add 76% to the cost of imported fasteners. He describes this as too high a price to pay to protect ‘archaic’ manufacturers like MMK-Metiz and Severstal-Metiz – the originators of the anti-dumping complaint. Semanov also warns of potential legal action by foreign countries relating to violations of international trade obligations, as well as the impact on Russian industry generally, and calculates that a virtual halving of Russian imports (currently around 86,000 tonnes) would actually reduce government revenue even with the extra duty applied.
RosMetiz represents some 200 producers and distributors of fasteners and other hardware products. ©2009 Fastener+Fixing Europe and GlobalFastenerNews.com
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