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Severstal Does Not Expect Major Impact from EU's Steel Curbs

July 18, 2018

Photo: Severstal
Photo: Severstal

Russian steel producer Severstal does not expect the European Union's curbs on steel imports to have a substantial impact on its financial performance as its distribution mechanism is flexible, the company said on Wednesday.

Severstal plans to continue supplying steel to European consumers as part of announced quotas, it added.

The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products no longer imported into the United States would instead flood European markets.

Reporting by Polina Devitt

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