Rusal Sells Silicon to Europe
Rusal has succeeded in having the 22.7-percent European Union antidumping duty on Russian silicon cancelled. The European Court ruled in favor of SUAL, which is now part of Rusal, in a case involving that duty in March 2006. The EU acknowledged the decision only in the last few days, however. The appearance of Swiss trader Glencore among the co-owners of Rusal is the likely reason for the EU's change of heart.
According to Rusal, 10,000 tons of silicon produced by OOO Sual-Kremniy-Ural and ZAO Kremniy and exported over the 25,000-ton EU limit will be charged the standard 5.5-percent EU duties, rather than the much higher antidumping rate, which was imposed in July 2003. One expert estimated Rusal's savings from overturning the duty at $3.8 million per year. In addition, SUAL's trade, Aluminium Silicon Mill Products Gmbh, will receive $10-11 million in refunds on the duty. The two SUAL producers have a combined output of 50,000 tons of silicon.
www.kommersant.com
All the Article in Russian as of Aug. 14, 2007
|
