The US Department of Commerce noted the important role that steel plants play during the war, as well as their future role in the reconstruction of the country and therefore the Section 232 tariff on steel and aluminum imports from Ukraine is being suspended by the US Department of Commerce for the period of one year.
In Ukraine every 13th well-paid job is created in metallurgy and despite hostilities those metallurgical companies not damaged by active fighting are resuming production and are also providing shelter and food for their workers.
For Centravis, as one of the surviving manufacturers, this initiative is very important as it will help us book more business in the US market and thus help company get back on track with production. The abolition of customs duties will mostly affect the sales of cold-finished products the tariff exemptions for which were not readily available due to the existence of the US based competitors. “Therefore, the main effect in volume we expect in segments that use smaller bore cold finished tubes, such as heat-exchanger and instrumentation tubes, ” noted Yuriy Dinets, Head of Sales Americas.