Russia will impose protective tariffs on all imported steel fasteners

On November 24, 2010, Alexander Semenov, the Secretary-General of Public Relations of Russia's Rosmetez Association, said that Russia will impose a protective tariff of US$282.4 per ton on all imported stainless steel fasteners.

The case was initiated and investigated by Severstal-Metiz and MMK-Metiz, Russia’s largest steel fastener manufacturer, on May 14, 2009, and the investigation was concluded on May 14, 2010. On November 24, 2010, the committee once again proposed to the Prime Minister to impose protective tariffs on imported steel fasteners. At the same time, on November 24th, the First Deputy Prime Minister Victor Zubkov held a meeting to discuss amendments to the tariff and non-tariff decrees, which included protective measures for foreign trade. At the meeting, the resolution will impose a tariff of US$282.4 per ton on stainless steel fasteners for a period of three years.