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Russia restricts the export of scrap metal due to the threat of a shortage of metallurgical raw materials

Russia / Ferrous metallurgy

The solution is also aimed at preventing an increase in prices for building materials, as well as industrial metal rolling.

Russia restricts the export of scrap metal due to the threat of a shortage of metallurgical raw materials

During the Friday meeting of the subcommittee on customs-tariff and non-tariff regulation, protective measures in foreign trade of the government commission for economic development and integration, the introduction of an export duty on scrap metal was supported. The measure is valid for 6 months, the press service of the Ministry of Economic Development of the Russian Federation reported.

“At the meeting, the initiative of the Ministry of Industry and Trade of the Russian Federation was supported to establish the rate of export customs duty on waste and scrap of ferrous metals at 5%, but not less than 45 euros per ton. The measure is introduced on a temporary basis due to the threat of a shortage of these products within the country, as well as in connection with the rise in prices for scrap metals, and is aimed at providing Russian metallurgical enterprises with the necessary raw materials. The decision is also aimed at preventing an increase in prices for building materials, as well as industrial rolled metal, which is used in the automotive industry, pipe production, and so on, ”the RF Ministry of Economic Development said.

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