Russian iron deliveries to USA to increase by three times

An agreement to increase quotas for Russian cast iron deliveries to the USA can be signed on June 2nd, Russian Deputy Minister for economic development and trade Maksim Medvedkov has reported.

According to him, in compliance with the agreement in 2003 the quota for cast iron deliveries will rise from 609 thousand tons to 2 million tons. Besides, Russian suppliers will be able to deliver 200 thousand of pipe and square half-finished products to the USA. The current limit for this kind of product in 2003 totals about 40 thousand tons.

This week is expected to see the completion of coordinating the agreement with Russian metallurgists, Mr. Medvedkov pointed out.

The agreement on increased quotas has been initialed by Russian Deputy Minister for economic development and trade Mr. Medvedkov and US Deputy Secretary of Commerce Faryar Shirzad on February 27th in Paris. However, then the formula coordinated by the two countries' representatives was not supported by Russian metallurgists.