NLMK USA has reached a settlement with the United States Government about the Section 232 lawsuit it had filed back in February, requesting 86 slab exclusions from the steel tariffs.
NLMK filed a suit against the US Department of Commerce, stating that it need not pay the 25pc steel tariffs on import of steel slab from its parent entity in Russia as well as Brazilian origin. Commerce had stated that NLMK USA can procure material domestically. However, the steelmaker challenged this, saying that no other manufacturer met their quality standards, nor could provide the required quantities. As per the settlement, the Government has agreed to refund NLMK USA with tariff money, along with interest.
NLMK USA consists of total three mills across Indiana and Pennsylvania and has a production capacity of 800,000mt of steel and 2.9mn mt of rolled steel products.