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Russia’s transformer steelmaker to turn business from EU to India

6/10/2015 TASS

 Russia, Lipetsk:  Russia’s steelmaker NLMK may redirect a portion of transformer steel volumes from the European Union to India following the import duties introduced by the European Union on supplies of Russian products.

NLMK president Oleg Bagrin said there is also a potential of increasing sales volumes on the markets of Turkey, the Middle East and the Southeastern Asia, according to TASS.

NLMK is currently holding about 25% of the Indian electrical steel market and is annually supplying over 70,000 tons of such products to the region.

As reported earlier, the European Union imposed an anti-dumping import duty on the transformer steel for six months. The measure affects steelmakers from China, Japan, the Republic of Korea, the United States and Russia.

Source: TASS