April 24, 2018 / 2:59 PM / a year ago

Russia's NLMK says finds out in June if exempt from U.S. tariffs

MOSCOW (Reuters) - Russia’s top steel producer NLMK said on Tuesday it expects a decision in June on its application to be excluded from new U.S. tariffs, adding that the market may see some sharp price swings ahead of this time.

Speaking on a call with investors, chief executive Grigory Fedorishin said NLMK is currently keeping stocks at its U.S. division “lean”, and is deciding every two weeks whether to maintain the supply chain.

Reporting by Polina Ivanova, Anastasia Lyrchikova and Andrey Kuzmin; Writing by Polina Ivanova; Editing by Vladimir Soldatkin

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