US to import more cast iron from Russia

Quotas on exporting Russian cast iron to the US have been raised. Earlier a 2nd addendum to the Agreement Concerning Trade in Certain Steel Products from the Russian Federation of July 12th 1999 was signed in Washington, the press service of the Russian Ministry of Economic Development and Trade reported.

The addendum increases Russian quotas on exporting semi-finished steel products and cast iron in 2003. In particular quotas on cast iron export have been put up more than thrice, reaching 2 mln metric tons.

The Russian trade mission in the US estimates the extra supplies of cast iron at about $240 mln.