Russia to raise export duty on ferrous scrap from May 1
Time:Thu, 31 Mar 2022 06:33:50 +0800
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Russia's authorities have decided to raise the export duty on ferrous scrap metal to 5%, with a minimum of EUR 290/ton, compared to the current EUR 100/ton. The new export duty will be valid from May 1 to July 31.
The adjustment was to uphold the domestic supply of raw materials and adjust local price levels. This new export duty will still be applied to ferrous metal exports to regions outside the Eurasian Economic Union.
Russia exported around 3.2 million tons of ferrous scrap in 2021, of which Turkey was the largest importer.
