A. Mordashov, general director of Severstal, and V. Makhov, strategic planning director of Seversal, take part in the special meeting of the Board of Directors of International Institute of Steel and Iron (IISI) held in Lisbon, Portugal.
   The meeting participants will discuss the short range outlook for steel demand in the members' specific regions and overall, and the possible impact of the US trade protection measures introduced March 20.
   The Secretary General will report on the current status of negotiations on a Multilateral agreement within the Organization for Economic Development and Trade with an emphasis of financing steel plant closures and new code of state aid.
   The recommendations of the Sustainable Steel Steering Group as well as draft policy position, mission and goals for IISI on steel and sustainable development will also draw attention. The Board members will follow on the ideas of what the industry needs to do to improve its return on capital and market capitalization.
   Before leaving for the meeting in Lisbon Alexei Mordashov emphasized that the future of the Russian metallurgy depends on the decisions of the world steelmaking community and the Russian government's supportive actions, which have to be taken urgently to keep the steel and associated industries afloat.
   These measures were already discussed by the leaders of four largest Russian steel making companies Magnitogorsk Metallurgical Plant, Severstal, Novolipetsk Metallurgical Plant and Evrazholding.
   International Institute of Steel and Iron is a non-commercial private organization. Presently steel making companies from 50 countries are among its members. Only two Russian companies are involved in IISI. They are Magnitogorsk Metallurgical Plant and Severstal. December meeting of IISI held in Paris elected Alexei Mordashov a member of the Board of Directors of IISI.