Business news

MINSK, 12 July (BelTA) – The Belarusian steel mill BMZ continues exporting merchandise to the USA and the volume of export remains stable, BelTA learned from Ivan Demidov, Head of BMZ’s Planning and Economic Analysis Office, on 12 July.

“As a result of negotiations with our clients in the USA the market for the staple products – seamless pipes and high pressure wire – remains stable, the volume has been preserved. American consumers have taken care of compensations,” explained Ivan Demidov.

The BMZ representative reminded that U.S. President Donald Trump had authorized import duties as high as 25% on steel and 10% on aluminum. The move affects BMZ’s interests. To minimize its impact, the Belarusian Ministry of Foreign Affairs together with the Industry Ministry has prepared requests from the first deputy prime minister of Belarus for the U.S. Department of Commerce and the U.S. trade mission to suspend the import duties against Belarusian products. Negotiations took place in April 2018. During the talks the American side stated that if Belarusian steel products are unique and its substitutes are not made in the USA, an import duty exemption may be granted for one year. The exemption may be granted after the affected U.S. party contacts the U.S. Department of Commerce. The American companies, which buy Belarusian metal products, have already submitted the necessary requests. No decision has been made so far.

Ivan Demidov also talked about an antidumping investigation into the import of rods made of carbon steel and other kinds of alloyed steel originating from Belarus. “As per regulations, BMZ will seek registration as an interested party and will request hearings within 30 days after the news about the launch of such an investigation is officially published,” said the executive. Apart from that, within 60 days the company will send its comments to the interagency commission on international trade of Ukraine. The law firm to protect BMZ’s interests will be chosen within the next few days.

The executive remarked that BMZ has been supplying merchandise to Ukraine since the company was founded. “After metallurgical enterprises located in Donetsk Oblast and Lugansk Oblast ran into problems, we stepped up the shipment of metal products and took care of the shortage of a number of products. Our sales rely on principles of fair competition. Prices are set bearing in mind the existing prices on the Ukrainian market,” stated Ivan Demidov.

Established in 1984, BMZ is the managing company of the holding company Belarusian Metallurgical Company. BMZ produces cast sections, long and rolled products, reinforcing bars, pipes, metal cord, high pressure wire, and other sorts of wire.