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Russia may restrict the export of metal products due to a sharp rise in prices on the domestic market

Russia / Ukraine / Ferrous metallurgy

The Federal Antimonopoly Service (FAS) of the Russian Federation has proposed to introduce export duties on steel products and raw materials for them for a period of six months.

Russia may restrict the export of metal products due to a sharp rise in prices on the domestic market

The Federal Antimonopoly Service (FAS) of the Russian Federation has proposed to introduce export duties for six months on all Russian metal products - from raw materials to upper processing, according to a December letter from the service to the Ministry of Industry and Trade.

The reason for the new wave of protectionism was the complaints of housing developers about the rise in prices for steel rebar, which has risen in price by one and a half times in a month. In order to stabilize prices, the FAS proposed to consider the possibility of introducing a system of export duties not only on raw materials, but also on final products.

During the discussion on the establishment of export customs duties on scrap and waste of ferrous metals at the subcommittee on customs-tariff and non-tariff regulation, the service expressed concern about the rise in prices not only for metallurgical raw materials, but also for the entire range of metal products.

According to the letter from the Federal Antimonopoly Service of the Russian Federation, the department, as an example, proposes, in the event of a duty on scrap of 15%, but not less than 49 US dollars per ton, to establish a duty on steel billets of 13%, but not less than 73 US dollars for ton, and duty on reinforcement in the amount of 12%, but not less than USD 78 per ton. The government has already agreed to introduce a mixed export duty for ferrous scrap for six months at a rate of 5%, but not less than 45 euros per ton.

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